Question

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Answer 1

Statement of equivalent units of production Materials Particulars Input Units Particulars Output Units Percentage Of Completion Conversion Cost Equivalent Percentage Of Equivalent Units Completion Units C=A*B D LE=A*D 201,700 100% 201,700 201,700 201,700 B 100% Opening work in progress Units Introduced 21,400 205,300 Units Completed and transferred out Units Completed and transferred out 201,700 201,700 Closing work in progress 25,000 100% 25,000 60% 15,000 226,700 Total 226,700 226,700 216,700 Add: Less: Caluclation of Units Completed and transferred out Opening work in progress Units Introduced Closing work in progress Units Completed and transferred out 21,400 205,300 (25,000) 201,700

Materials Conversion Cost Particulars Equivalent units 226,700 216,700 Materials Particulars Costs Incurred A Equivalent units B Cost per equivalent unit Conversion Cost 102,015 || $ 226,700 0.45 || s 509,245 323545+185700 216,700 2.35 A/B Materials Conversion Cost 0.45 IS Cost per equivalent unit 2.35 Cost of goods finished and transferred Equivalent units Material Cost for cost of finished and transferred Conversion cost for cost of finished and transferred Equivalent unit cost per unit 201,700 | $ 201,700 || $ 0.45 2.35 Total Cost $ $ | $ 90,765 473,995 564,760 Closing work in progress Equivalent units Material Cost for cost of closing work in progress Conversion cost for cost of closing work in progress Equivalent unit cost per unit 25,000 || $ 15,000 || $ 0.45 2.35 Total Cost $ $ 11,250 35,250 46,500 Closing work in progress Cost of goods finished and transferred 46,500.00 564,760.00