Answer
1) 100,000 units (completed units and ending inventory)
2)Material =100,000 units (see the below table)
Conversion cost =79,000 units (see the below table)
Statement of Equivalent Production | |||||||
Particulars | Input units | Particulars | Output units | Equivalent production | |||
Material | Conversion cost | ||||||
% | Units | % | Units | ||||
Beginning W.I.P | 25,000 | Units completed (Transferred out) | 70,000 | 100 | 70,000 | 100 | 70,000 |
Units introduced | 75,000 | ||||||
Ending W.I.P | 30000 | 100 | 30000 | 30 | 9000 | ||
Total | 100,000 | Equivalent Units | 100,000 | 79,000 |
3)
Statement of Apportionment of cost | ||||
Units | Cost per unit(working note 1) | Total | ||
Completed units | Material | 70000 | 2.7 | 189000 |
Conversion cost | 70000 | 1.9 | 133000 | |
Total | 322000 |
4)
Statement of Apportionment of cost | ||||
Units | Cost per unit(working note 1) | Total | ||
Ending inventory (July 31) | Material | 30000 | 2.7 | 81000 |
Conversion cost | 9000 | 1.9 | 17100 | |
Total | 98100 |
Working note 1
Statement Showing Cost of each element | |||||
Opening | Cost in Process | Total | Equivalent Units | Cost per unit | |
Material | $ 80,000 | $ 190,000 | $ 270,000 | 100,000 | $ 2.70 |
Conversion cost | $ 13,000 | $ 137,100 | $ 150,100 | 79,000 | $ 1.90 |
Ex. 169 The Assembly Department uses a process cost accounting system and a weighted average cost...
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