Solution :
Assembly Department Computatio of Equivalent units |
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Particulars | Physical Units | Equivalent units | |
Material | Conversion | ||
Work in Process, beginning | 10000 | ||
Started during the current period | 67000 | ||
Total units to account for | 77000 | ||
Units accounted for: | |||
Unit completed & Transferred out | 55000 | 55000 | 55000 |
Closing WIP: | 22000 | ||
Material (100%) | 22000 | ||
Conversion (30%) | 6600 | ||
Equivalent units of production | 77000 | 77000 | 61600 |
Assembly Department Computation of Cost per equivalent unit of Production |
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Particulars | Material | Conversion |
Opening WIP | $12,000.00 | $5,000.00 |
Cost Added during Period | $160,000.00 | $85,000.00 |
Total cost to be accounted for | $172,000.00 | $90,000.00 |
Equivalent units of production | 77000 | 61600 |
Cost per Equivalent unit | $2.23 | $1.46 |
Assembly Department Computation of Cost of ending WIP and units completed & transferred out |
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Particulars | Material | Conversion | Total |
Equivalent unit of Ending WIP | 22000 | 6600 | |
Cost per equivalent unit | $2.23 | $1.46 | |
Cost of Ending WIP (Equivalent unit * Cost per equivalent unit) | $49,143 | $9,643 | $58,786 |
Units completed and transferred | 55000 | 55000 | |
Cost of units completed & Transferred (Unit completed * cost per equivalent unit) | $122,857 | $80,357 | $203,214 |
Assembly Department Cost reconcilaition |
|
Particulars | Amount |
Costs to be accounted for: | |
Cost of beginning WIP inventory | $17,000.00 |
Cost added to production | $245,000.00 |
Total Cost to be accounted for | $262,000.00 |
Costs accounted for as follows: | |
Cost of unit transferred out | $203,214 |
Ending WIP | $58,786 |
Total cost accounted for | $262,000.00 |
Process costing Units Beginning WIP 10000 Started in Production 67000 Completed and transferred out 55000 Ending...
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Units to account for options: Beginning work-in process, Completed and transferred out, Ending work-in process, and Transferred in AquaMate uses three processes to manufacture lifts for personal watercraft: forming a lift's parts from galvanized steel, assembling the lift, and testing the completed lift. (Click the icon to view additional information.) The cost transferred into Finished Goods Inventory is the cost of the lifts transferred out of the Testing Department. AquaMate uses weighted average process costing. Read the requirements. Requirement 1....
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The following information is available to prepare a process cost summary report: completed and transferred out 80,000 units; ending WIP 18,000 units. The status of the ending WIP inventory is: direct materials 100% complete; conversion 75% complete. What are the total materials EUP? Multiple Choice 0 73,500 EUP. 98,000 EUP. O 60,000 EUP. 93,500 EUP. 56,000 EUP. The following information is available to prepare a process cost suimary report: completed and transferred out 60,000 units; ending WIP 15.000 units. The...
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