Overton Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process.

Instructions

a. Compute equivalent units of production for materials and for conversion costs.

b. Determine the unit costs of production.

c. Show the assignment of costs to units completed and transferred out and to work in process at the end of the period.

Transcribed Image Text:

Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Cost of beginning work in process, plus costs incurred during the period: Direct materials Direct labor Overhead 20,000 164,000 24,000 60% 100% $101,200 $164,800 $184,000