Question

an sasn u's02OLd awiOloz (Click the icon to view the equivalent unit computation.) e data.) accou a endi costs to units cc - X ata Table al cost Direct Conversion Physical Units Costs (Watches) Materials $543,000 $96,550 110 Beginning work in process (May 1) Started in May 2017 Completed during May 2017 Ending work in process (May 31) Total costs added during May 2017 515 465 160 $3,690,000 $1,211,600 alent Degree of completion: direct materials, 70%; conversion costs, 50 %. Degree of completion: direct materials, 65%, conversion costs, 35%. Print Done any number in the input fields and then continue to the next question.

Answer 1

Solution

	Total production costs	Direct material	Conversion costs
Beginning work in process	$       639,550.00	$        543,000.00	$             96,550.00
Cost added during period	$   4,901,600.00	$    3,690,000.00	$       1,211,600.00
Total costs to account for	$   5,541,150.00	$    4,233,000.00	$       1,308,150.00

.

	Direct material	Conversion costs
Cost added in current period	$    3,690,000.00	$       1,211,600.00
Divided by: Equivalent units	492	466
Cost per Equivalent unit	$ 7,500.00	$ 2,600.00

.

Working

STEP 1 (FIFO)
Reconciliation of Units
	Units	% already completed		% completed this period
		Material	Conversion cost	Material	Conversion cost
Beginning WIP	110	70%	50%	30%	50%
Units introduced	515
Total units to be accounted for	625
Completed and Transferred unit	465	0%	0%	100%	100%
Ending WIP	160	0%	0%	65%	35%

.

STEP 2 (FIFO)
Equivalent Units
	Total Units	Material		Conversion cost
Units Transferred:		% completed this period	Equivalent Units	% completed this period	Equivalent Units
From WIP	110	30%	33	50%	55
From units started/Introduced	355	100%	355	100%	355
Total	465		388		410
	Total Units	Material		Conversion cost
Ending WIP		% completed this period	Equivalent Units	% completed this period	Equivalent Units
Total	160	65%	104	35%	56
Total EUP	625		492		466