Question

Selded production costos o wo May 2018 the con low to costa) On May 31 the Mang Departmending Works Processertery was 70% comple convenco the compe te weed average method Too ls ending Work in Procession .com Requirement Compete n te pocondrome and forces con for the Complete the protocol for the Mangarhw n s of production de maand or cow Nancy's Unity Co. Production Cost Report Ming Department Partian Month Ended May 31 Equivalent Units Physical Direct Conversion 10 000 Transferred during May un account of edlo Compted and r ed on May S Choose from anyone number in the per umber in the input fo r Check Answer 1 g

Answer 1

Equivalent units for Material and Conversion cost Equivalent Unit Direct Material Conversion Physical units Units to be accounted for:- Units Completed & transferred out Ending work in Process Total Units accounted for 80000 30000 110000 80000 21000 101000 80000 7500 87500 Ending WIP = Units in ending WIP X complete % 30000 x 70% 30000 x 25% As units are completed and transferred out, theses units are 100% complete in regards of material and conversion costs. Material in ending inventory is 70% complete and conversion cost 25% so multiply it with total units in ending inventoi