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Gnom [1K]
3 years ago
15

The Cutting Department of Sheridan Company has the following production and cost data for July.

Business
1 answer:
alina1380 [7]3 years ago
5 0

Answer:

1.                                                                   Materials       Conversion Costs

Total equivalent units of production        17,200                  15,800  

2. Cost per Equivalent Unit                    $ 4.05                           $ 2.6

Explanation:

Cutting Department

Weighted-Average Method

1. Equivalent Units

Particulars              Units       % of Completion       Equivalent Units

                                     Materials Conversion   Materials Conversion

Transferred Out    13,700     100         100             13,700      13,700

<u>Ending Inventory     3500      100          60             3500        2100    </u>

<u>Total Equivalent Units                                             17,200      15,800  </u>

<em>The Ending Inventory  units are 3500 which are not yet complete. </em>

                                                                   Materials       Conversion Costs

Total equivalent units of production        17,200                  15,800  

2. Cost Per Equivalent Units

                                                    Materials         Conversion

Cost Added                               69,660                18,480 + 22,600

                             

Total Costs                                69,660                  41,080

Equivalent Units                       <u> 17,200                    15,800 </u>

Cost per Equivalent Unit             69,660 / 17,200         41,080/ 15,800  

                                                    $ 4.05                           $ 2.6

Cost of Ending Work In Process  $ 19635

Materials = 3500 * $ 4.05= $ 14175

Conversion = 2100 * $ 2.6=  $ 5460

We multiply the equivalent number of units with the cost per unit to find the cost.

Cost Of Units Transferred Out = $ 91,105

Materials = 13,700 * $ 4.05= $ 55,485

Conversion = 13,700 * $ 2.6 =  $ 35620

B. A Cost Reconciliation Report

                                    Materials              Conversion

Ending WIP                     $ 14175                  $ 5460

<u>Transferred Out             $ 55,485              $ 35620</u>

<u />

<u>Total                                 $ 69660                 41080   </u>

These calculated costs reconcile with the costs given in the above data.

                                                  Materials              Conversion

<u>Cost Added                               69,660                18,480 + 22,600</u>

<u>Total Costs                                69,660                  41,080</u>

<u></u>

These costs reconcile with the given costs.

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Explanation:

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Answer:

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