Cost Information During October, McCourt Associates incurred total production costs of $107,200 for copyediting manuscripts and...
Cost Information During October, McCourt Associates incurred total production costs of $107,200 for copyediting manuscripts and had the following equivalent units schedule: Units completed 320 Units in EWIP × Fraction complete: 25 × 0.6 15 Equivalent units 335
What if the costs assigned to units completed and EWIP total were calculated using a unit cost of $340? Calculate the total costs assigned.
What is the discrepancy between the costs assigned and the costs to account for?
Homework Answers
Answer
--Total Cost assigned = 335 equivalent units x $ 340 unit cost = $ 113,900
--Discrepancy between cost assigned ($113900) and the cost to account for ($107200) = $ 6700 [113900 - 107200]
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Cost Information During October, McCourt Associates incurred
total production costs of $107,200 for copyediting manuscripts and...
Cost Information During October, McCourt Associates incurred total production costs of $107,200 for copyediting manuscripts and...
Cost Information During October, McCourt Associates incurred total production costs of $107,200 for copyediting manuscripts and had the following equivalent units schedule: Units completed 320 Units in EWIP × Fraction complete: 25 × 0.6 15 Equivalent units 335 Required: 1. Calculate the cost of copyediting one manuscript for October. $ per manuscript 2. Assign costs to manuscripts completed and to EWIP and then do a cost reconciliation. Manuscripts completed $ EWIP Total assigned $ 3. What if the costs assigned...
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