1 | No of units in Work in progress inventory at year end | |
Particulars | Units | |
Opening Work in progress | 5,000 | |
Add: Units introduced | 108,000 | |
Less: Finished Goods at year end | 105,500 | |
Closing Work in Progress | 7,500 |
2 | Equivalent units of production for direct material and conversion | |||
Particulars | Units | Percentage completed in current year | Equivalent units | |
Opening Work in progress | 5,000 | 65% | 3,250 | |
Add: Units introduced (108,000) | ||||
Finished Goods at year end | 105,500 | 100% | 105,500 | |
Closing Work in Progress | 7,500 | 45% | 3,375 | |
Equivalent units of production | 112,125 |
3 | Cost per equivalent unit for Direct Material and Conversion | ||||
Direct Material | Conversion | ||||
Particulars | Cost incurred | Equivalent units | Cost incurred | Equivalent units | |
Opening WIP for 5000 units @ 1.5/ unit for 65% | 4,875 | 5,600 | |||
Cost incurred during month | 162,000 | 192,825 | |||
Less: Closing WIP for 7500 units @ 1.5/ unit for 55% | (6,188) | (7,365) | |||
Net cost incurred | 160,688 | 112,125 | 191,060 | 112,125 | |
Cost per unit | 1.43 | 1.70 |
4 | Cost of unit started and completed during the month ($) | ||
Particulars | Direct Material | Conversion | |
Cost of unit started | 4,875 | 5,600 | |
Cost of unit completed | 155,813 | 185,460 |
5 | Cost of Ending Inventory | |
Particulars | Amount ($) | |
Opening WIP | 10,475 | |
Direct Materials | 162,000 | |
Direct Labour | 145,300 | |
Factory Overhead | 47,525 | |
Less: Closing WIP | (13,552) | |
Closing Inventory | 351,748 |
The charges to Work in Proces Assembly Department for a period, other wa mation concerning procheton are a follom. A...
The charges to Work in Process-Assembly Department for a period, together with informat concerning production, are as follows. All direct materials are placed in process at the begin production Work in Process-Assembly Department Bal., 9,000 units, 40% completed 72,360 To Finished Goods, 41,500 units Direct materials, 40,000 units @ $6.80 272,000 Direct labor 80,000 Factory overhead 40,450 Bal., ? units, 30% completed Determine the following: a. The number of units in work in process inventory at the end of the...
EX 20-11 Equivalent units of production and related costs The charges to Work in Process Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal., 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units @ $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal.? units, 45% completed Determine the following: a. The number...
Equivalent Units of Production and Related Costs The charges to Work in Process Assembly Department for a period, together with information concerning production are as follows. All direct materials are placed in process at the beginning of production Work in Process Assembly Department Bal., 2,000 units, 45 completed 5,690 to shed Goods, 46,000 units Direct materials, 47,000 units Direct labor Factory overhead Bal., 2 units, 50% completed a. The number of units in work in process inventory at the end...
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department 14,775 To Finished Goods, 115,000 units Bal., 5,000 units, 35% completed 212,400 Direct materials, 118,000 units @ $1.8 297,500 115,675 Direct labor Factory overhead Bal. ? units, 60% completed Determine the following: a. The number of units in work in process inventory at the end of...
its EX 20-11 Equivalent units of production and related costs The charges to Work in Process-Assembly Department for a period, together with infor mation concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process- Assembly Department Bal, 5,000 units, 35% completed 10,475 To Finished Goods, 105,500 units Direct materials, 108,000 units $1.50 162,000 Direct labor 145,300 Factory overhead 47,525 Bal? units, 45% completed Determine the following: a. The number of...
The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production Work in Process-Assembly Department Bal., 3,000 units, 40% completed Direct materials, 71,000 units @ $1.3 Direct labor Factory overhead Bal. 2 units, 80% completed 6,300 92,300 To Finished Goods, 69,000 units 113,700 44,260 Determine the following a. The number of units in work in process inventory at the end of...
Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 2,000 units, 75% completed 6,500 To Finished Goods, 46,000 units Direct materials, 47,000 units @ 61,100 $1.30 Direct labor 93,300 Factory overhead 36,340 Bal. ? units, 60% completed Determine the following: a. The number of units in work...
Equivalent Units of Production and Related Costs The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 9,000 units, 75% completed 27,000 To Finished Goods, 207,000 units Direct materials, 212,000 units @ 318,000 $1.5 Direct labor 334,900 Factory overhead 130,290 Bal. ? units, 80% completed Determine the following: a. The number of units in work...
Equivalent Units of Production and Related Costs The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 9,000 units, 40% completed 72,360 To Finished Goods, 41,500 units ? Direct materials, 40,000 units @ $6.80 272,000 Direct labor 80,000 Factory overhead 40,450 Bal., ? units, 30% completed ? Determine the following: a. The number of units...
Equivalent Units of Production and Related Costs The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 1,600 units, 35% completed 17,440 To Finished Goods, 29,600 units ? Direct materials, 29,000 units @ $9.50 275,500 Direct labor 84,600 Factory overhead 39,258 Bal. ? units, 45% completed ? Determine the following: a. The number of units...