Question

Brief Exercise 3-4 Goode Company has the following production data for selected months. Ending Work in Process Month Beginning Work in Process % Complete as to Conversion Cost January -0- Units Transferred Out 36,300 41,000 46,600 Units 13,500 8,100 20,400 40 % 72 March -0- July -0- 25 Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process. Materials Conversion Costs January March July Click if you would like to Show Work for this question: Open Show Work

Answer 1

Question-1
	Materials	Conversion Costs
January	49800	41700	=36300+(13500*40%)
March	49100	46832	=41000+(8100*72%)
July	67000	51700	=46600+(20400*25%)
Question-2
Welding Department
Production Cost Report
For the Month Ended February 28, 2020
		Equivalent Units
	Physical Units	Materials	Conversion Costs
Units to be accounted for
Work in process, February 1	15300
Started into production	51100
Total units	66400
Units accounted for
Transferred out	54800	54800	54800
Work in process, February 28	11600	11600	2320
Total units	66400	66400	57120
		Materials	Conversion Costs	Total
Unit costs:
Total costs		219120	174216	393336
Equivalent units		66400	57120
Unit costs		3.30	3.05	6.35
Costs to be accounted for
Work in process, February 1				32760
Started into production				360576
Total costs				393336
Cost Reconciliation Schedule
Costs accounted for
Transferred out				347980	=54800*6.35
Work in process, February 28
Materials			38280		=11600*3.30
Conversion costs			7076	45356	=2320*3.05
Total costs				393336