Answer:
Explanation:
Beginning WIP inventory 74000
Add: Units started during May 390000
Less: Ending inventory 34000
Units completed and transferred 430000
1 Equivalent Units
Whole units Materials Conversion
Beginning WIP inventory 74000 74000 74000
Started & completed 356000 356000 356000
Ending inventory 34000 23800 10200
Units accounted for 464000 453800 440200
Materials Conversion
Equivalent units of production 453800 440200
2
Cost Data: Total Material Conversion
Beginning WIP inventory 142800 98800 44000
Current costs 755960 513830 242130
Total cost to account for 898760 612630 286130
Divided by Equivalent units 453800 440200
Cost per Equivalent unit 2.00 1.35 0.65
Materials Conversion
Cost per Equivalent unit 1.35 0.65
3
Cost Assignment:
Ending Work in process:
Material 32130
Conversion 6630
Total Ending Work in process 38760
4
Cost of units completed and transferred
Material 580500
Conversion 279500
Total 860000
5
Cost to be accounted for:
Beginning WIP inventory 142800
Current costs 755960
Total costs to be accounted for 898760
Cost accounted for as follws:
Cost of units completed and transferred 860000
Cost of ending work in process 38760
Total costs accounted for 898760
