Answer:
Please see answers below
Explanation:
We know that ;
Beginning work WIP 10,000
Units started 170,000
a. Ending WIP 20,000
Material 100% complete = 20,000 EU
Conversion 100% complete = 8,000 EU
b. Units completed = 160,000
Units started and completed = 150,000
Beginning WIP costs;
Materials cost $8,500
Conversion cost $4,900
Costs added during the period;
Materials cost $139,400
Conversion cost $244,200
Equivalent units for July;
EU for materials = 170,000
EU for conversion = 7,000 + 150,000 + 8,000 = 165,000
Costs per EU:
Materials = $139,400 / 170,000 = $0.82 per EU
Conversion = $244,200 / 165,000 = $1.48 per EU
c. Total costs;
Ending WIP = [20,000 × $0.82] + [8,000 × $1.48] = $28,240
Units transferred out = [$383,600 - $28,240] + $8,500 + $4,900 = $368,760
d. Therefore,
Costs to be accounted for ;
Beginning work in process $13,400
Cost added $383,600
Total costs to be accounted for $397,000
Also,
Costs account ted for are as follow
Units transferred out $368,760
Ending WIP $28,240
Total costs accounted for $397,000
