Data concerning a recent period’s activity in the Prep Department, the first processing department in a...

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Data concerning a recent period’s activity in the Prep Department, the first processing department in a...

Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

	Materials		Conversion
Equivalent units in ending work in process inventory		2,110		840
Cost per equivalent unit	$	15.46	$	5.73

A total of 20,100 units were completed and transferred to the next processing department during the period.

Required:

1. Compute the cost of ending work in process inventory for materials, conversion, and in total.

2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.

(Round your final answers to the nearest whole dollar amount.)

		Materials	Conversion	Total
1.	Cost of ending work in process inventory
2.	Cost of units transferred out

business accounting

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Answer 1

Answer #1

		Materials	Conversion	Total
1.	Cost of ending work in process inventory	$32620.60	$4813.20	$37433.80
2.	Cost of units transferred out	$310746	$115173	$425919

Cost of ending work in process inventory :-

Materials = 2110 * $15.46 = $32620.60

Conversion = 840 * $5.73 = $4813.20

Cost of units transferred out :-

Material = 20100 * $15.46 = $310746

Conversion = 20100 * $5.73 = $115173

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Answer 2

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