Toronto Manufacturing Ltd. has the following cost and production data for the mo

Question

Toronto Manufacturing Ltd. has the following cost and production data for the month of November. Beginning WIP Started in production Completed production Ending WIP 16,100 units 103,100 92 ,900 26,300 The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of November are as follows: Beginning inventory costs are: Materials Direct labour Factory overhead $65,600 18,200 16,100 Costs incurred during November include: Materials Direct labour Factory overhead S560,200 195,000 370,536

Explanation / Answer

Physical units Materials Conversion costs Transferred out 92900 92900 92900 Work in process, November 30 26300 26300 10520 Equivalent units 119200 119200 103420 Materials Conversion costs Total costs 625800 599836 Equivalent units 119200 103420 Unit costs 5.25 5.80 c Cost Accounted for: Transferred out 1026545 =92900*(5.25+5.8) Work in process Materials 138075 =26300*5.25 Conversion Costs 61016 199091 =10520*5.8 Total costs 1225636

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---