Answer:
The following data pertain to the Vesuvius Tile Company for July:
Work in process, July 1 (in units) .......................................................................................................................20,000
Units started during July ...................................................................................................................................? 45,000
Total units to account for ..................................................................................................................................65,000
Units completed and transferred out during July ................................................................................................? 50,000
Work in process, July 31 (in units) .....................................................................................................................15,000
Total equivalent units: direct material .................................................................................................................65,000
Total equivalent units: conversion ......................................................................................................................?56.000
Work in process, July 1: direct material .............................................................................................................$164,400
Work in process, July 1: conversion ...................................................................................................................?79,800
Costs incurred during July: direct material .........................................................................................................?371,850
Costs incurred during July: conversion ..............................................................................................................659,400
Work in process, July 1: total cost .....................................................................................................................244,200
Total costs incurred during July .........................................................................................................................1,031,250
Total costs to account for ..................................................................................................................................1,275,450
Cost per equivalent unit: direct material .............................................................................................................8.25
Cost per equivalent unit: conversion ..................................................................................................................?13.20
Total cost per equivalent unit ............................................................................................................................21.45
Cost of goods completed and transfered out during July ......................................................................................?1,072,500
Cost remaining in ending work-in-process inventory: direct material ...................................................................?202,950
Cost remaining in ending work-in-process inventory: conversion .........................................................................79,200
Total cost of July 31 work in process .................................................................................................................202,950