Homework Answers
(A)Total cost of all inventory= opening WIP+ purchases =$29000+$99000
=$128000
(B) Total of inventory=WIP+ purchases(started in may)
=70000+270000
=340000units
(C) cost per equivalent unit=cost of inventory/ total inventory
=$128000/340000units
=$0.38
(D)cost of goods available for sale=245000units*$0.38
=$93100
(E) Cost of closing WIP=Total cost of inventory- (D)
=$128000-$93100
=$34900
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complete for materials and 24 percent complete for conversion.
15,000 units started during the period.
Ending inventory of 3,400 units that are 13 percent complete
for conversion.
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Beginning inventory was $21,100 ($10,400 materials and $10,700
conversion costs).
Costs added during the month were $29,500...
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