Please show what you did to get to the final answer so I know what to do! Requir
ID: 2532274 • Letter: P
Question
Please show what you did to get to the final answer so I know what to do!
Requirement 2 Change all of the numbers in the data area of your worksheet so that it looks like this 3 Data 4 Beginning work in process inventory: 5 Units in process 6 Completion with respect to materials 7 Completion with respect to conversion 8 Costs in the beginning work in process inventory: 9 10 Conversion cost 11 Units started into production during the period 12 Costs added to production during the period 13 Materials cost 14 Conversion cost 15 Ending work in process inventory: 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 800 85 % 60% Materials cost S31,078 S34,840 17,600 $798,842 $1,549,940 500 60% 80 % If your formulas are correct, you should get the correct answers to the following questions. (a) What is the equivalent units of production for materials? Equivalent units of production for materials 17,720 (b) What is the equivalent units of production for conversion? Equivalent units of production for conversion $18,020Explanation / Answer
A) Equivalent units of production for materials -
Total equivalent units = A + B * C
Where:
A = units transferred to the next department or finished goods (completed)
B = units in work-in-progress at the closing time of time period
C = percentage of completion with respect to the product
therefore , Equivalent units of production for materials -
= 17,600 + 500 x 60%
= 17,900
?B) Equivalent units of production for Conversion -
= 17,600 + 500 x 80%
= 18,000
C) cost per Equivalent unit for material -
Material cost in the begining = $31,078
Material cost added during the period = $798,842
Costs to be accounted for? = $8,29,920
Equivalent units of production for materials = 17,900
cost per Equivalent unit for material = $46.36.
?D) cost per Equivalent unit for conversion -
Conversion cost in the begining = $34,840
Conversion cost added during the period = $15,49,940
Costs to be accounted for? = $15,84,780
Equivalent units of production for Conversion = 18,000
cost per Equivalent unit for Conversion = $88.04.
?E) cost of the units transferred out -
Total Cost per equivalent unit = $46.36 + $88.04
= $134.41
therefore cost of units transferred out = 17,600 x 134
= $23,65,573
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