The following information relates to the Mathias Manufacturing Company for 2004:

The beginning work-in-process inventory is 30% complete, and the ending work-inprocess inventory is 80% complete.
Required:

a. Calculate the number of equivalent units of production.

b. Calculate the cost per equivalent unit of production.

c. Calculate the cost of the ending work-in-process inventory.

d. Calculate the cost of the completed units.

e. Appendix: Prepare a journal entry to transfer the cost of completed goods from workin-
process.

Transcribed Image Text:

Work-in-process at January 1 Units started into production Units completed in 2004 Work-in-process at December 31 Current production cost Units 77,000 Cost $ 107,415 602,500 587,500 92,000 $2,979,922