Question
1) In May, 175,000 units were finished and transferred to finished goods. Ending Work in Process for May included 60,000 unfinished units 25% complete with
1) In May, 175,000 units were finished and transferred to finished goods. Ending Work in Process for May included 60,000 unfinished units 25% complete with respect to Conversion Costs.
Calculate the Conversion Cost equivalent units of production for May.
2) ollowing is a mostly complete Cost of Goods Manufactured schedule.
Work-in-Progress (1/1) | $175,000 | ||
Direct Materials | |||
Raw Materials Inventory (1/1) | $ ? (a) | ||
Add: Raw Materials Purchases | 186,000 | ||
Total Raw Materials Available | $ ? (b) | ||
Less: Raw Materials Inventory (12/31) | 15,000 | ||
Direct Materials Used | $180,000 | ||
Direct Labor | $ ? (c) | ||
Manufacturing Overhead | |||
Indirect Labor | 28,000 | ||
Factory Depreciation | 31,000 | ||
Factory Utilities | 52,000 | ||
Total Manufacturing Overhead | 111,000 | ||
Total Manufacturing Costs | $ ? (d) | ||
Total Cost of Work-in-Progress | $ ? (e) | ||
Less: Work-in-Progress (12/31) | 81,000 | ||
Cost of Goods Manufactured | $635,000 |
Complete the above schedule by indicating the correct values for items "a", "b", "c", "d" and "e" with explanation, please.
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