Question

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The Finishing Department started the month with 900 units in process, received 1,500 units from the Assembly Department, and transferred 1,600 units to the finished goods storage area. All direct materials are added at the beginning of the process. The units in process at the end of the month are 20% complete with respect to conversion costs. The department uses the weighted average method. The Finishing Department incurred the following costs: (Click the icon to view the costs.) Read the requirements. B. How many units are still in process at the end of the month? Determine the formula, then enter the arrounts to calculate units in process at the end of the month. To account for - Transferred out = in process units 1600 9. Compute the equivalent units of production for the Finishing Department. Production Cost Report - Finishing Department Physical Units Equivalent Units Transferred Direct Conversion In Materials Costs UNITS Units to account for: Beginning work-in-process Transferred in Total units to account for Units accounted for: Completed and transferred out Ending work-in-process

Answer 1

8)
To account for - Transferred out =In process units
(900+1500) - 1600 = 800
9)
	Phy units	Tranf in	DM	Conv costs
units to account for:
Beg WIP	900
Transf. in	1500
Total units to a/c for	2400
Units a/cted for:
Compl.&transf.Out	1600	1600	1600	1600
Ending WIP	800	800	800	160
Total units a/cted for	2400	2400	2400	1760
10) Production cost report- finishing deptt. (partial):
	Tranf in	DM	Conv costs	Total costs
Costs toa/c for:
Beg WIP	10980	1080	1500	13560
Incurred during month	18300	1800	4660	24760
Total costs to a/c for	29280	2880	6160	38320
Equivalent units	2400	2400	1760
Cost per equivalent unit	12.2	1.2	3.5	16.9
11) Cost of units transf. to Finished Goods:
Units transferred to FG * total costs per equivalent unit
1600 * 16.9 = 27040