Question

Manufacturing costs: Materials $33.000; labor $21,000; and overhead $36,000. b. De c. Sh E3.11 manu Instructions Prepare a production cost report. E38 (LO 3, 4), AP The Blending Department of Luongo Company has the following cost and data for the month of April. st and production $100,000 70,000 $170,000 Costs: Work in process, April 1 Direct materials: 100% complete Conversion costs: 20% complete Cost of work in process, April 1 Costs incurred during production in April Direct materials Conversion costs Costs incurred in April $ 800,000 365,000 $1,165,000 Units transferred out totaled 17,000. Ending work in process was 1,000 units that are 100% com. plete as to materials and 40% complete as to conversion costs. Instructions a. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month, of April. b. Compute the unit costs for the month. c. Determine the costs to be assigned to the units transferred out and in ending work in process, F20110241 AP Raden Comnany has gathered the following information

Answer 1

Statement of Equivalent production
Particulars	Direct Materials	%completion	Equivalent mat	Conversion	%completion	Equivalent Conv	Total
Inventory in process, April 01
Started and completed in April
Transferred to finished goods in April	17,000.00	100%	17,000.00	17,000.00	100%	17,000.00
Inventory in process, April 30	1,000.00	100%	1,000.00	1,000.00	40%	400.00
a) Equivalent Units of production			18,000.00			17,400.00
Opening WIP Costs			100,000.00			70,000.00	170,000.00
Current Month Costs			800,000.00			365,000.00	1,165,000.00
Total costs			900,000.00			435,000.00	1,335,000.00
b) Cost per Equivalent units			50.00			25.00
Ending WIP Units			1,000.00			400.00
c)Cost of Ending WIP			50,000.00			10,000.00	60,000.00
Units completed and transferred out			17,000.00			17,000.00
c) Cost of Units completed and transferred out			850,000.00			425,000.00	1,275,000.00