Question

out 7 S/31 Labor e to search hp

Answer 1

Workings: Statement showing calculation of no. of units in ending WIP Units in Beginning WIP Add: No. of units started Units in ending WIP Less: No, of units completed and transferred out Ending WIP 510 1730 2240 1590 650 Statement showing Calculation of equivalent units of production Materials Conversion Units completed and transferred out (1 Units in Ending WIP (a %age completion (b Equivalent units in Ending WIP (2)(a)*(b Total equivalent units in production (1) (2 1590 650 100% 650 2240 1590 650 4090 260 1850 Production cost report Material Conversion Total Cost of beginning work in process Costs added during the period: Total cost to be accounted for: Equivalent units Cost per equivalent unit Ending WIP %age completion Equivalent units in ending WIP Cost in ending WIP (no. of equivalent units in ending WIP cost per equivalent unit) Units completed and transferred out Cost of units completed and transferred out (units completed and transferred out cost per equivalent unit Total cost accounted for: 2340 6870 9210 2240 4.112 650 100% 650 1350 5410$12,280.00 6760 $15,970.00 $3,690.00 1850 3.654 650 4090 260 $3,623 2672.5446 950.0540541 1590 1590 6537.4554 5809.945946 12,347 15,970.00 Answers Work In process May 31 Unit material cost for mAY Unit conversion cost for May Total cost of Units transferred out Work In process 650 units $4.112 per unit $3.654 per unit S 12,347.00 $ 3,623.00