Solution
Material | Conversion | Total | |
Unit costs T-12 tables | $ 19.00 | $ 18.00 | $ 37.00 |
Working
Reconciliation of Units | ||
A | Opening WIP | - |
B | Introduced | 24,800 |
C=A+B | TOTAL | 24,800 |
D | Transferred | 21,080 |
E=C-D | Closing WIP | 3,720 |
.
Statement of Equivalent Units(Weighted average) | |||||||
Material | Conversion cost | ||||||
Units | Complete % | Equivalent units | Complete % | Equivalent units | |||
Transferred | 21,080 | 100% | 21,080.0 | 100% | 21,080 | ||
Closing WIP | 3,720 | 100% | 3,720.0 | 60% | 2,232 | ||
Total | 24,800 | Total | 24,800.0 | Total | 23,312 |
.
Cost per Equivalent Units (Weighted average) | ||||
COST | Material | Conversion cost | TOTAL | |
Beginning WIP Inventory Cost | $ 0 | $ 0 | $ 0 | |
Cost incurred during period | $ 471,200 | $ 419,616 | $ 890,816 | |
Total Cost to be accounted for | $ 471,200 | $ 419,616 | $ 890,816 | |
Total Equivalent Units | 24,800 | 23,312 | ||
Cost per Equivalent Units | $ 19.00 | $ 18.00 |
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,800 3,720 60 Cost Data-July Work in process, July...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data-July T12-Tables Work in process units, July 1 0 Units started into production 24,800 Work in process units, July 31 3,720 Work in process percent complete 60 Cost Data-July Work in process,...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,800 3,720 60 Cost Data-July Work in process, July...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 24,800 3,720 60 Cost Data-July Work in process, July...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 0 23,200 3,480 60 Cost Data-July $0 Work in...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department T12-Tables Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 23,200 3,480 60 Cost Data-July Work in process, July...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc, manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data-July T12-Tables Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete 22,000 3,420 Cost DataJuly Work in process, July 1...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data—July T12-Tables Work in process units, July 1 0 Units started into production 21,600 Work in process units, July 31 3,240 Work in process percent complete 60 Cost Data—July Work in process,...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data—July T12-Tables Work in process units, July 1 0 Units started into production 24,000 Work in process units, July 31 3,600 Work in process percent complete 60 Cost Data—July Work in process,...
Problem 3-3A (Video) (Part Level Submission) Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data—July T12-Tables Work in process units, July 1 0 Units started into production 21,600 Work in process units, July 31 3,240 Work in process percent complete 60 Cost Data—July Work in process,...