Question

	Units	Materials	Conversion
Work in process inventory, beginning	10,000	$5,700	$20,400
Units started in process	90,000
Units transferred out	84,000
Work in process inventory, ending	8,000
Costs added during the month		$52,800	$76,400

The beginning work in process inventory was 80% complete with respect to materials and 60% complete for Conversion. The ending work in process inventory was 75% complete with respect to materials and 50% complete with respect to conversion costs.

5) What are the equivalent units for Materials and Conversion?

a). Materials – 84,000, Conversion – 84,000 c.) Materials – 98,000, Conversion – 96,000 b.)Materials – 92,000, Conversion – 90,000 d.) Materials – 90,000, Conversion – 88,000

6) What is your cost per Equivalent Unit based on what you calculated in question 5 above?
Materials ____________ + Conversion ______________ = Total Cost ___________________

7) What is your recalculated cost of Ending Inventory?

7. a. $8,300 b. $155,300 c.$14,000 d.154,000 .

8. 8) What is your cost of Goods Transferred?

9. a. $157,500 b.147,000 c. $14,000 d. $155,300

Prepare a Cost Reconciliation report for the information related to problems 5 through 8.

Please show work for each problem!

Those units are all i was given

Answer 1

Statement of Equivalent production
Particulars	Direct Materials	% of completion	Equivalent material	Conversion	% of completion	Equivalent Conv	Total
Units transferred out	84,000	100%	84,000	74,000	100%	84,000
ending WIP	8,000	75%	6,000	8,000	50%	4,000
Equivalent Units			90,000			88,000
Opening WIP Costs			5,700			20,400	26,100
Current Month Costs			52,800			76,400	129,200
Total costs			58,500			96,800	155,300
Cost per Equivalent units			0.65			1.10	1.75
Cost of ending inventory	(6,000 x 0.65) + (4,000 x 1.10) =	3,900 + 4,400 = 8,300
Cost of goods transferred =	84,000 x 1.75 = 147,000						Cost reconciliation Cost to be accounted for Beginning work in process 26,100 Cost added 129,200 Total Cost to be accounted for 155,300 Cost accounted as Cost of unit transferred out 147,000 Cost of ending work in process 8,300 Total cost accounted as 155,300