PLEASE FILL IN THE REMAINING BLUE CELLS WITH AN EXPLANATION OF THE CALCULATIONS
Total Production Costs | Direct Materials | Conversion Costs | |
Work in process, beginning | $602,458 | $459,888 | $142,570 |
Costs added in current period | $5,153,000 | $3,237,000 | $1,916,000 |
Total costs to account for | $5,755,458 | $3,696,888 | $2,058,570 |
Costs added in current period | $3,237,000 | $1,916,000 | |
Divide by: equivalent units of work done in current period | 498 | 479 | |
Cost per equivalent unit of work done in current period | $6,500 | $4,000 | |
Assignment of costs: | |||
Completed and transferred out: | |||
Work in process, beginning | $602,458 | $459,888 | $142,570 |
Costs added to beginning work in process in current period | |||
Total from beginning inventory | |||
Started and completed | |||
Total costs of units completed and transferred out | |||
Work in process, ending | |||
Total costs accounted for |
Answer
Total Production Costs |
Direct Materials |
Conversion Costs |
|
Work in process, beginning |
$602,458 |
$459,888 |
$142,570 |
Costs added in current period |
$5,153,000 |
$3,237,000 |
$1,916,000 |
Total costs to account for |
$5,755,458 |
$3,696,888 |
$2,058,570 |
Costs added in current period |
$3,237,000 |
$1,916,000 |
|
Divide by: equivalent units of work done in current period |
498 |
479 |
|
Cost per equivalent unit of work done in current period |
$6,500 |
$4,000 |
|
Assignment of costs: |
|||
Completed and transferred out: |
|||
Work in process, beginning |
$602,458 |
$459,888 |
$142,570 |
Costs added to beginning work in process in current period |
$390,000 |
$130,000 |
$260,000 |
Total from beginning inventory |
$992,458 |
$589,888 |
$402,570 |
Started and completed |
$3,675,000 |
$2,275,000 |
$1,400,000 |
Total costs of units completed and transferred out |
$4,667,458 |
$2,864,888 |
$1,802,570 |
Work in process, ending |
$1,088,000 |
$832,000 |
$256,000 |
Total costs accounted for |
$5,755,458 |
$3,696,888 |
$2,058,570 |
Total Production Costs |
Direct Materials |
Conversion Costs |
|
Work in process, beginning |
$602,458 |
$459,888 |
$142,570 |
Costs added in current period |
$5,153,000 |
$3,237,000 |
$1,916,000 |
Total costs to account for |
$5,755,458 |
$3,696,888 |
$2,058,570 |
Costs added in current period |
$3,237,000 |
$1,916,000 |
|
Divide by: equivalent units of work done in current period |
498 |
479 |
|
Cost per equivalent unit of work done in current period |
$6,500 |
$4,000 |
|
Assignment of costs: |
|||
Completed and transferred out: |
|||
Work in process, beginning |
$602,458 |
||
Costs added to beginning work in process in current period |
$390,000 |
=20*6500 |
=65*4000 |
Total from beginning inventory |
$992,458 |
||
Started and completed |
$3,675,000 |
=350*6500 |
=350*4000 |
Total costs of units completed and transferred out |
$4,667,458 |
||
Work in process, ending |
$1,088,000 |
=128*6500 |
=64*4000 |
Total costs accounted for |
$5,755,458 |
PLEASE FILL IN THE REMAINING BLUE CELLS WITH AN EXPLANATION OF THE CALCULATIONS Total Production Costs...
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