Cost of Units Transferred Out and Ending Work in Process The The rate used to al

Question

Cost of Units Transferred Out and Ending Work in Process

The The rate used to allocate costs between completed and partially completed production.costs per equivalent unit of direct materials and conversion in the Filling Department of Lilac Skin Care Company are $0.45 and $0.15, respectively. The equivalent units to be assigned costs are as follows:

The beginning work in process inventory had a cost of $25,000. Determine the cost of completed and transferred-out production and the ending work in process inventory.

Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 1,200 Started and completed during the period 38,800 38,800 Transferred out of Filling (completed) 38,800 40,000 Inventory in process, end of period 6,200 2,480 Total units to be assigned costs 45,000 42,480

Explanation / Answer

Answer:

Completed and transferred-out production = $48460

Inventory in process, ending = $3162

Direct material Conversion Total Inventory in process, balance 25000 Inventory in process, beginning 0 180 180 Started and completed during the period 17460 5820 23280 Transferred out of filling (completed) 48460 Inventory in process, ending 2790 372 3162 Total units to be assigned cost 51622

Completed and transferred-out production = $48460

Inventory in process, ending = $3162

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