March 2013 Percent Completed Units Materials Conversion Work-In-Process, Beginni
ID: 2418333 • Letter: M
Question
March 2013
Percent Completed
Units Materials Conversion
Work-In-Process, Beginning 60,000 60% 30%
Started into production 210,000
Completed and Transferred Out 200,000
Work-In-Process, Ending 70,000 80% 40%
Work-In-Process, Beginning $22,600 $16,600
Costs added during period $450,000 $353,000
What are the total units to be accounted for?
What are the total costs for March?
What are the equivalent units for materials?
What are the equivalent units for conversion?
What is the cost of materials per equivalent unit?
What is the value of Materials Work-in-Process Mar 31st?
What is the cost of conversion per equivalent unit?
What is the value of Conversion Work-in-Process Mar 31st?
What is the value of Conversion Work-in-Process Mar 31st?
Explanation / Answer
Details Units % Material Eq unit Material % Conversion Eq Unit convesrion Opening WIP 60,000 60% 36,000 30% 18,000 Started into Production 210,000 Total 270,000 Output Completed & Transferred out 200,000 100% 200,000 100% 200,000 WIP closing 70,000 80% 56,000 40% 28,000 Total 270,000 256,000 228,000 1 Total units to be accounted for 270,000 2 Total Costs March Materials Conversion Total Opening WIP 22,600 16,600 39,200 Added during March 450,000 353,000 803,000 Total cot March 472,600 369,600 842,200 Materials Conversion 3 Equivalent Units Produced Mar 256,000 228,000 Cost/Equivalent unit= $ 1.85 $ 1.62 4 Value of WIP Materials Conversion Total Cost/Equivalent unit= 1.85 1.62 Eq units in WIP 56,000 28,000 Value of WIP 103,381.3 45,389.5 $ 148,770.72