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Solution a:
Computation of Equivalent unit of Production - Polishing department | |||
Particulars | Physical Units | Material | Conversion |
Units to account for: | |||
Beginning WIP | 1860 | ||
Started into Production | 45100 | ||
Total units to account for | 46960 | ||
Units accounted for: | |||
Unit completed & Transferred out | 41260 | 41260 | 41260 |
Units in ending inventory: | 5700 | ||
Material (100%) | 5700 | ||
Conversion (10%) | 570 | ||
Equivalent units of production | 46960 | 46960 | 41830 |
Solution b:
Computation of Cost per equivalent unit - Polishing department | |||
Particulars | Material | Conversion | Total |
Beginning invenotry cost | $20,800 | $42,944 | $63,744 |
Current period cost | $226,210 | $384,140 | $610,350 |
Total cost to be accounted for | $247,010 | $427,084 | $674,094 |
Equivalent units of production | 46960 | 41830 | |
Cost per Equivalent unit | $5.26 | $10.21 |
Solution c:
Computation of Cost of ending WIP and units completed & transferred out - Polishing Department |
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Particulars | Material | Conversion | Total |
Equivalent unit of Ending WIP | 5700 | 570 | |
Cost per equivalent unit | $5.26 | $10.21 | |
Cost of Ending WIP (Equivalent unit * Cost per equivalent unit) | $29,982 | $5,820 | $35,802 |
Units completed and transferred | 41260 | 41260 | |
Cost of units completed & Transferred (Unit completed * cost per equivalent unit) | $217,028 | $421,264 | $638,292 |
Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and...
Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,300; ending inventory of 7,300 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,600 of materials and $12,585 of...
Please help with Part C Exercise 16-11 (Part Level Submission) The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,730 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 46,900; ending inventory of 7,700 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $22,100...
Exercise 16-11 The Polishing Department of Major Company has the following production and manufacturi cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 45,500; ending inventory of 5,200 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,400 of materials and $58,044 of conversion costs; materials...
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The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1.520 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,300; ending inventory of 7,400 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $21,600 of materials and $12,320 of conversion costs; materials costs added...
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The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,200; ending inventory of 6,600 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,600 of materials and $14,674 of conversion costs; materials costs added...
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