I figured out some of this but I am stuck on like the last half of it. Help is much appreciated.
Product cost report :-
Direct material | conversion cost | ||
Beginning inventory | 18200 | 0 | 0 |
Current | 210000 | 96000 | 114000 |
Total cost to account for | 228200 | $96000 | $114000 |
÷ total equivalent units | 24000 | 22800 | |
Average cost / equivalent unit | $4 | $5 | |
Beginning inventory : | |||
- Cost incurred in month 0 | $18200 | ||
- cost incurred in month 1 (1800x5) | 9000 | ||
Started and finished (20000x9) | $180000 | ||
Cost of goods manufactured | $207200 | ||
Ending inventory : | |||
Direct material | 16000 | ||
Conversion costs | 5000 | ||
Cost of ending inventory | $21000 | ||
Total cost allocated (207200+21000) | $228200 |
All those figures that were previously wrong are marked in bold.
I figured out some of this but I am stuck on like the last half of...
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