n March, Kelly Company had the following unit production costs: materials $10 and conversion costs $9. On March 1, it had no work in process. During March, Kelly transferred out 20,000 units. As of March 31, 5,000 units that were 47% complete as to conversion costs and 100% complete as to materials were in ending work in process.
Homework Answers
a) Total Units to be accounted for = 20000+5000 = 25000 Units
b) Equivalent unit
| material | Conversion | |
| Unit transferred out | 20000 | 20000 |
| Ending WIP | 5000 | 5000*47% = 2350 |
| Equivalent unit | 25000 | 22350 |
c) Cost reconciliation
| Cost accounted for | ||
| Transferred out (20000*19) | 380000 | |
| Work in process, March 31 | ||
| Material | 50000 | |
| Conversion Cost (2350*9) | 21150 | 71150 |
| Total Cost | 451150 | |
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n March, Kelly Company had the following unit production costs:
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Compute the equivalent units of production.
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