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Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,200 units that are 100 percent complete for materials and 30 percent complete for conversion. 15,500 units started during the period. • Ending inventory of 3,700 units that are 13 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,000 ($9,700 materials and $10,300 conversion costs). Costs added during the month were $28,600 for materials and $56,600 for conversion ($26,700 labor and $29,900 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and Equivalent Units Physical Units Direct Conversion Materials Units Completed Ending Inventory Total 15,000 37,000 52,000 2. Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5 decimal places.) Direct Conversion Materials Cost per Equivalent Unit 3. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Total Cost Direct Conversion Materials Units Completed Ending Inventory Total Cost Accounted for

Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,200 units that are 100 percent complete for materials and 30 percent complete for conversion. 15,500 units started during the period. • Ending inventory of 3,700 units that are 13 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,000 ($9,700 materials and $10,300 conversion costs). Costs added during the month were $28,600 for materials and $56,600 for conversion ($26,700 labor and $29,900 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and Equivalent Units Physical Units Direct Conversion Materials Units Completed Ending Inventory Total 15,000 37,000 52,000 2. Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5 decimal places.) Direct Conversion Materials Cost per Equivalent Unit 3. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Total Cost Direct Conversion Materials Units Completed Ending Inventory Total Cost Accounted for

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 11P
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Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,200 units that are 100 percent complete for materials and 30 percent complete for conversion. 15,500 units started during the period. • Ending inventory of 3,700 units that are 13 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,000 ($9,700 materials and $10,300 conversion costs). Costs added during the month were $28,600 for materials and $56,600 for conversion ($26,700 labor and $29,900 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and Equivalent Units Physical Units Direct Conversion Materials Units Completed Ending Inventory Total 15,000 37,000 52,000 2. Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5 decimal places.) Direct Conversion Materials Cost per Equivalent Unit 3. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Total Cost Direct Conversion Materials Units Completed Ending Inventory Total Cost Accounted for
Transcribed Image Text:Vista Vacuum Company has the following production information for the month of March. All materials are added at the beginning of the manufacturing process. Units • Beginning inventory of 3,200 units that are 100 percent complete for materials and 30 percent complete for conversion. 15,500 units started during the period. • Ending inventory of 3,700 units that are 13 percent complete for conversion. Manufacturing Costs • Beginning inventory was $20,000 ($9,700 materials and $10,300 conversion costs). Costs added during the month were $28,600 for materials and $56,600 for conversion ($26,700 labor and $29,900 applied overhead). Assume the company uses Weighted-Average Method. Required: 1. Calculate the number of equivalent units of production for materials and Equivalent Units Physical Units Direct Conversion Materials Units Completed Ending Inventory Total 15,000 37,000 52,000 2. Calculate the cost per equivalent unit for materials and conversion for March. (Round your answers to 5 decimal places.) Direct Conversion Materials Cost per Equivalent Unit 3. Determine the costs to be assigned to the units transferred out and the units still in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final answers to the nearest whole dollar amount.) Total Cost Direct Conversion Materials Units Completed Ending Inventory Total Cost Accounted for
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