τηe perioa ana transre rrea 1,2uu units το τιη!snea gooas ınventory. ı ne ena ing work n process inventory was estimarea το De , u percent complete. Cost data for the period follow: Product Costs Beginning balance Added during period $31,640 $ 88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between ending work in process inventory and finished goods inventory Complete this question by entering your answers in the tabs below Req A and B Req C Calculate the number of equivalent units of production. Calculate the product cost per equivalent unit a. Equivalent units b.Cost per equivalent unit Req c > Req A and B
19 Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent unit. c. Calculate the total cost allocated between ending work in process inventory and finished goods inventory Complete this question by entering your answers in the tabs below. Reg C Req A and B Calculate the total cost allocated between ending work in process inventory and finished goods inventory. (Round intermediate calculations to 2 decimal places.) ost Allocation To finished goods To ending work-in-process inventory Total allocated cost Req A and B Req C >
Homework Answers
Total units available are
= 100 units in beginning inventory + 1,300 units started
= 1,400 units
1,200 units are completed and remaining 200 (ie. 1,400 - 1,200) are 70% complete.
= 1,200 units + 70% of 200 units
= 1,200 units + 140 units
= 1,340 units
a. Equivalent units of production = 1,340
Total cost incurred = $88,440
Equivalent units = 1,340
Cost per unit = $88,440 / 1,340 = $66
b. Product cost per equivalent unit = $66
Of the 1,340 units, 1,200 units are finished and 140 units are ending work in process
c. Cost of finished units = $66 X 1,200 units = $79,200
Cost of ending work in process = $66 X 140 units = $9,240
Total cost allocated = $88,440
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