Data concerning a recent period’s activity in the Prep Department, the first processing department in a...

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Data concerning a recent period’s activity in the Prep Department, the first processing department in a...

Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses process costing, appear below:

	Materials		Conversion
Equivalent units in ending work in process inventory		2,180		810
Cost per equivalent unit	$	14.26	$	6.43

A total of 20,900 units were completed and transferred to the next processing department during the period.

Required:

1. Compute the cost of ending work in process inventory for materials, conversion, and in total.

2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.

(Round your final answers to the nearest whole dollar amount.)

business accounting

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Answer 1

Answer #1

Cost of ending WIP

	Material	Conversion	Total
Cost of ending WIP	2180*14.26 = 31087	810*6.43 = 5208	36295

Cost of Unit transferred out

	Material	Conversion	Total
Cost of transferred out	20900*14.26 = 298034	20900*6.43 = 134387	432421

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Answer 2

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