Question

ACCT 101 Ch 3 HW Question 2 of 15 -/2 View Policies Current Attempt in Progress In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 25,500 units. As of March 31, 4,200 units that were 43% complete as to conversion costs and 100% complete as to materials were in ending work in process. Compute the total units to be accounted for. Total units

Answer 1

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А B с E F G H 1 2 3 4 Materials Coversion 10 Transferred out 8 Closing units 25500 Conversion 4200 materials 43% 100% 5 Total units 29700 6 7 Percentage of Percentage of Total completion of Equivalent completion of Equivale units materials units conversion nt units 25500 100% 25500 100% 25500 4200 100% 4200 43% 1806 29700 29700 27306 8 9 Transferred units Closing WIP 10 11 12 13 14 459000 15 Cost Reconciliation Schedule Amount Amount Costs accounted for Transferred out Work in process, March 1 Materials 42000 Conversion Costs 14448 Total costs 16 17 56448 18 515448 19 20 21 22

For calculation ref:

А B C D E F G 1 2 3 Materials 10 25500 0.43 Transferred out Closing units Conversion materials Coversion 8 4200 1 4 Total units =E3+E2 5 6 Percentage of completion of materials 7 Total units Percentage of completion of Equivalent units conversion =C8%D8 1 =C9*D9 =G2 =SUM(E8:E9) =E2 1 8 9 Transferred units Closing WIP Equivalent units =E8F8 =E9*F9 | =SUM(G8:49) 1 =E3 =SUM(C8:09) 10 11 12 Amount 13 14 =E8*C2+G8*C3 15 Cost Reconciliation Schedule Amount Costs accounted for Transferred out Work in process, March 1 Materials =E9*C2 Conversion Costs =G9*C3 Total costs 16 17 =SUM(C16:C17) I=SUM(D14:017) 18 19 20 21 22