1.
Calculation of beginning
inventory
As given in the question: ending work in progress inventory is
$13000
: units cost transferred to next process is $ 436000
: cost add to production is $414000
Hence, opening work in progress inventory would be:
ending work in progress inventory + units cost transferred to next
process - cost add to the production
$13000+ $436000-$414000= $35000
OPTION A $35000 WOULD BE THE CORRECT ANSWER
2.Calculation of
Cost per unit of conversion cost
opning WIP : 5300 units
units introduced : 59200 units
total units : 5300+59200 = 64500 units
Units transferred to next process and completed 100% = 57000 * 100%
= 57000 units
closing WIP inventory and completed only 40% = 7500* 40 % = 3000
units
total units allocated to conversion cost = 57000+3000 = 60000
units
conversion cost current month = $559454
conversion cost previous month = $34758
total conversion cost = $594212
cost per unit for conversion = total cost of conversion / total
units
= $594212 / 60000
= $9.904/units
Hence, option B, $9.904/ unit would be correct
answer.
3. OPTION B, $329000 WOULD BE THE CORRECT ANSWER
4.Calculation of
conversion cost for the units transferred to next
process
beginning WIP inventory : 6700 units
units transfered from perior department : 62000 units
total units : 6700 + 62000 = 68700 units
closing WIP units : 10200
units transferred to next process = total units - closing WIP
units
= 68700 - 10200
= 58500 units
As conversion cost per unit given in the question
coversion cost allocated to units transferred to nexr process
would be 58500* $6.14 = $359190
Hence, OPTION A, $359190 would be the correct
answer
5.Calulation of
cost per unit for materials
oping WIP :2500 units
introduced : 11200 units
total units : 2500+11200 = 13700 units
units transferred to next process and completed 100% for materials
= 10100*100% = 10100 units
closing WIP inventory and completed 90% for materials = 3600*90% =
3240 units
Total units allocated to materials : 10100 + 3240 = 13340
units
calculation of cost of material :
material cost during the month : $173700
material cost privious month : $14600
total cost for material = $173700+$14600 = $188300
calculation of cost per units for material:
cost per units = total cost of material / total units allocated to
materials
= $188300 / 13340 units
= $14.12 / unit
Hence, OPTION D, $14.12 / unit would be the correct
answer
6.OPTION A, 97 UNITS would be the correct answer
7.OPTION A, 4300 UNITS would be the correct answer
8. OPTION C, $26848.8 would be correct anser
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