Question

Santana Mortgage Company uses a process cost system to accumulate costs in its Application Department. When an application is completed, it is forwarded to the Loan Department for final processing. The following processing and cost data pertain to September 1. Applications in process on September 1, 200 2. Applications started in September, 1,000 3. Completed applications during September, 700 4. Applications still in process at September 30 were 100% complete as to materials (forms) and 60% complete as to conversion costs. $1,110 4,930 Beginning WIP: Direct materials Conversion costs September costs: Direct materials Direct labor Overhead 100 $5,130 12,680 8,890 udy Materials are the forms used in the application process, and these costs are incurred at the beginning of the process. Conversion costs are incurred uniformly during the process Determine the equivalent units of service (production) for materials and conversion costs. Materials Conversion Costs The equivalent units of service production) LINK TO TEX T TEXT

Answer 1

Book1 - Excel (Product Activation Failed) 0 x & Share Formulas Data Review View Tell me what you want to do... ES File Home Insert Page Layout % Cut BE Copy Paste Format Painter BI D Clipboard Font Calibri 11 A A === D E Wrap Text General 1 x AutoSumĄ 0 - Sign in O Sort & Find & Filter Select Editing Fill - A S E Merge & Center, $ % , 4 .09 Conditional Format as Cell Formatting Table Styles Styles Insert Delete Format - Cells Clear Alignment Number H47 > K L M N A А в 27 28 29 particulars units 30 TO Beginning wip 31 direct material 32 conversion cost 33 to application star 34 direct material 35 direct labour 36 overhead 37 Total 38 39 Input particulars 1200 transfer out 1000 closing wip 2200 Total process cost amount particulrs units amount where,unitstrate per unit 1200 by transfer out 700 13580 700*(16.562+2.836) 1110 4930 by closing wip 1500 19159.8 900*16.562+1500*2.836 Material 5130 conversion cost 12680 8890 32740 total 32739.8 Equivalent unit of service output material % of complete euivalent unit conversion cost % of complete equivalent unit 700 700 100 700 700 100 700 1500 | 100 1500 1500 60 900 2200 2200 2200 2200 1600 1500 cost 47 1110+5130 Computation of unit cost Material cost conversion cost( labour+ overhead) equivalent unit cost per unit cost equivalent unit cost per unit 4930+12680+8890 2200 2.836 26500 1600 16.562 where,cost/equivalent unit= cost per unit Sheet1 6240 49 Ready -- - + 100% Type here to search 3:55 AM A 34) 2/27/2020 E