Question

Complete this production cost report: Enter all amount as positive values. If required round "Cost per unit" answers to two decimal place. Beginning inventory Production Cost Report 19,000 74,000 Started during the month Total units to account for Completed and transferred out 69,000 Ending work in process Total units to account for Work in process completion percent 100% 30% Materials Units Conversion Units Total Units Completed and transferred out 69,000 69,000 69,000 Ending work in process Total units to account for Costs to account for Materials Conversion Total Beginning work in process $4,000 $16,000 $20,000 Transferred in Incurred during the period 23,900 44,960 68,860 Total costs to account for Equivalent units Cost per equivalent unit for department $ Transferred-out costs End work in process: materials $ End work in process: conversion End work in process: total Costs to account for

Answer 1

Beginning inventory	19000
Started during the month	74000
Total units to account for	93000
Completed and Transferred out	69000
Ending work in process	24000
Total units to account for	93000
Work in process completion percent	100%	30%
	Material units	Conversion Units	Total Units
Completed and Transferred out	69,000	69,000	69,000
Ending work in process	24,000	7,200	31,200
Total units to account for	93,000	76,200	100,200
Costs to account for	Materials	Conversion	Total
Beginning work in process	$4,000	$16,000	$20,000
Transferred in	-	-	-
Incurred during the period	$23,900	$44,960	$68,860
Total costs to account for	$27,900	$60,960	$88,860
Equivalent Units	93,000	76,200
Cost per equivalent unit for department	0.30	0.80	1.10
Transferred out costs		75,900	(69000*1.1)
End work in process : Materials	7200		(24000*0.3)
End work in process : Conversion	5,760		(7200*0.80)
End work in process total		12,960
Cost to account for		88,860

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