QUESTION 2 INSTRUCTION 2: (Rourdlarnorts to the nearest 101 0 e·penny)) Show sup
ID: 2328892 • Letter: Q
Question
QUESTION 2 INSTRUCTION 2: (Rourdlarnorts to the nearest 101 0 e·penny)) Show support for your anwer of the units transferred out and (b) the cost of the ending WIP for July 31 HINT Use your hard copy of the production cost epont to assist you The Cufting Department The Cuting daling the process month of Jdly 2018 Materials are entered at the beginning of the cutting process Other cests are incured evendy of Lawrence &Laud Company reports the following indormation for the of July Production resus were (1) 24,000 units were started at the Al July 31, 2018, 4000 'nts were len 60% complete as to conversion and 10% complete as to material Cost accumulated during October Inckade o) so costs he,no begineing WP) at July 1, 2018 Material (3)Laber $27.200 4) Manufactoring Overtead, $32,200 $90,00 HNT: Use your hard copy ef the production cost report to assist youExplanation / Answer
Solution 2:
Computation of Equivalent unit of Production - Cutting Department Particulars Physical Units Material Conversion Unit completed & Transferred out 20000 20000 20000 Closing WIP: 4000 Material (100%) 4000 Conversion (60%) 2400 Equivalent units of production 24000 24000 22400