Question

rsonal watercraft: forming a lift's parts from galvanized steel, The cost transferred HU PUSTILU LOUV U SeaBound uses weighted average process costing. i More Info lar. Abbreviatic esting De Bound ort-Testin ed Augus The lifts are transferred to Finished Goods Inventory before shipment to marinas across the country. SeaBound's Testing Department requires no direct materials. Conversion costs are incurred evenly throughout the testing process. Other information follows for the month of August: Transfer 1,600 units in 6,900 units 4,200 units 4,300 units UNITS Beginning Work-in-Process Inventory Transferred in from Assembling Department during the period Completed during the period Ending Work-in-Process Inventory (40% complete for conversion work) COSTS Beginning Work-in-Process Inventory (transferred in costs, $88,000; conversion cost, $15,000) Transferred in from the Assembly Department during the period Conversion costs added during the period $ 103,000 660,000 79,720 Print Done at fields and then click Check Answer. Clear All

Answer 1

Seabound
Production Cost Report - Testing Department
Month Ended August 31
			Equivalent Units
UNITS	Physical Units	Transferred In	Direct Materials	Conversion Costs
Units to account for:
Beginning work in process	1,600
Started in Production	6,900
Total units to account for	8,500
Units account for:
Completed and transferred out	4,200	4,200	n/a	4,200
Ending work in process	4,300	4,300	n/a	1,720
Total units accounted for	8,500	8,500	n/a	5,920