A, The % of completion with regard to DM of beginning work in process B. The % o
ID: 2415522 • Letter: A
Question
A, The % of completion with regard to DM of beginning work in process
B. The % of completion with regard to DM of ending work in process
C. The physical units completed and transferred out in July
D. The equivilent units for direct materials
E. The Equiv. Units for Conv. Costs
F. The cost per Equiv, unit for DM
G. The cost per Equiv. Unit for CC
H. The costs completed and transferred out of work in process inventory this period.
I. The cost of ending work in process inventory.
% % Costs Costs Phys. Units DM CC DM CC Work In Process July 1 400 ? 40% $1,019,136 $148,520 Started during July 47,600 Completed during July ? Works in Process July 31 4,000 Total Costs add during July $4,980,864 $2,201,480Explanation / Answer
Solution:
C. The physical units completed and transferred out in July
Solution:
C. The physical units completed and transferred out in July
H. The costs completed and transferred out of work in process inventory this period. Costs to units transferred out 43,600 x ($21.41+$3.29 = $24.70) Costs to units transferred out 43,600 x $24.70 = $1,076,920 Costs to units in process $90,904 D. The equivalent units for direct materials Equivalent units for materials 43,600* + 4,000 = 47,600 *(47,600 - 4,000) = 43,600 E. The Equiv. Units for Conv. Costs Equivalent units for conversion costs 43,600 + (4,000 x 40% = 1,600) = 45,200 F. The cost per Equiv, unit for DM Unit costs of materials $1,019,136/ 47,600 = $21.41 G. The cost per Equiv. Unit for CC Unit costs of conversion costs $148,520 / 45,200 = $3.29 I. The cost of ending work in process inventory. Materials (4,000 x 21.41) = $85,640 Conversion costs: ($3.29 x 1,600*) = $5,264 Total $90,904 *(4,000 x 40%) = 1,600