Question

Points 100 Submitting an external tool Available Sep 14 at 12am - Oct 10 at 11:59pm 27 days s Weygandt, Managerial Accounting, Fifth Canadian Edition Help System Announcements PRINTER VERSION « < BACK Exercise 4.19 a-e The ledger of Magdy Company has the following work in process account: Work in Process -Painting 5/1 Balance $3,630 5/31 Transferred out S? 5/31 Materials 5,970 5/31 Labour 2,400 5/31 Overhead 276 S/31 Balance $? Production records show that there were 380 units in the beginning inventory, 35% complete, 1,240 units started, and 1,240 units transferred out. The beginning work in process had materials costs of $2,130 and conversion costs of $1,500. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 31? Work in process 380 ENG 11:5 2020- 다.

Answer 1

$ 9920 2356 May-01 Balance May-31 Materials May-31 Labour May-31 Overhead Work in process - Painting $3630 May-31 Transferred out 5970 May-31 Work in process 2400 276 $ 12276 $ 12276 1 Work in process May 31 = 380 units Units Reconciliation Units to account for: Beginning WIP Units started this period Total Units to account for Total Units accounted for: Completed & Transferred out Ending WIP (1620-1240) Total Units accounted for 380 1240 1620 1240 380 1620 2 Material cost Beg WIP May-31 2130 5970 8100 Equivalent units End WIP Units completed 380 1240 1620 Material cost for may 5 8100/1620

3 Conversion cost Beg WIP May-31 1500 2676 4176 Equivalent units End WIP(40%) Units completed 152 1240 1392 Convevrsion cost for may 3 4176/1392 4 Total cost of units transferred out = $ 9920 Cost per Cost of Units Transferred Out EUP Total Cost EUP $ 1,240 5+3 Total Cost transferred Out $ 9920 5 Materials:Ending WIP Conversion:Ending WIP total cost ending WIP 380*5 152*3 1900 456 2356

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