Homework Answers
Since the question contains more than one sub questions, as per Chegg guidelines only the first 4 are answered
Since we do not require the closing inventory of WIP, we are not drawing any process accounts
1)
Total Containers transferred from cleaning department
= Opening units + Units from Filling department - Closing units
= 5,000 + 50,000 - 10,000
= 45,000 containers
2)
Total Transferred in Cost
In opening stock = 7,500
Current period = 80,500 (50,000 + 30,500)
Total = 88,000
Equivalent units of Transferred in cost
= Transferred out units + Closing Units
= 45,000 + 10,000
= 55,000
Transferred in cost per EU = 88,000/55,000 = 1.6
3)
Total Conversion cost
= 3,300 + 49,700
= 53,000
Equivalent units of conversion cost
= 45,000 + 10,000 x 80%
= 53,000 units
Conversion cost per EU = 53,000/53,000 = 1
4)
Total cost of goods transferred to Finished goods
Material cost = 45,000 x 1.6 = 72,000
Conversion cost = 45,000 x 1 = 45,000
Total Cost = 117,000
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