Cost of units completed and ending inventory LO 4 Carter Candy Company had a cost per equivalent

Question:

Cost of units completed and ending inventory LO4 Carter Candy Company had a cost per equivalent pound for the month of

$4.56 for materials, $1.75 for labor, and $1.00 for overhead. During the period, 10,250 pounds were completed and transferred to finished goods. The 3,200 pounds in ending work in process were 100% complete as to materials and 60% complete as to labor and overhead. At the beginning of the month, 1,500 pounds were in process, 100% complete as to materials and 50% complete as to labor and overhead. The beginning inventory had a cost of $8,775.

Carter uses FIFO costing.

Required:

1.Calculate the cost of the pounds completed and transferred.

2. Calculate the cost of ending work in process.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Principles Of Cost Accounting

ISBN: 9780324100945

12th Edition

Authors: Edward J. Vanderbeck

Question Posted: