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1) Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for

1)

Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:

Production data:

In process, beginning of month (20% converted)

1,000 units

Started during February

5,000 units

Completed and transferred to finished goods

4,500 units

In process, end of month (60% converted)

1,500 units

Manufacturing costs:

Work in process, beginning (Materials $3,000; Conversion Costs: $18,360)

$21,360

Materials

$45,000

Direct labor cost

$102,960

Applied Factory overhead cost

$51,480

Required: Calculate the Following using the weighted average method:

Equivalent Units of Production for Direct materials

__________ (Do not enter commas in answer for example 5,000 should be entered as 5000)

Equivalent Units of Production for Conversion Costs

__________ (Do not enter commas in answer for example 5,000 should be entered as 5000)

Cost per Equivalent Unit Direct Materials

$__________ (Round to 2 decimal places)

Cost per Equivalent Unit Conversion Costs

$__________ (Round to 2 decimal places)

Total value of units transferred out

$__________.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)

Total value of Ending Inventory

$__________.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)

2)

Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.

Work in process, beginning:

Units in process

900

Percent complete with respect to materials

40

%

Percent complete with respect to conversion costs

20

%

Costs in the beginning inventory:

Materials cost

$

530

Conversion cost

$

2108

Units started into production during the month

16,000

Units completed and transferred out

16,000

Costs added to production during the month:

Materials cost

$

32,180

Conversion cost

$

416,512

Work in process, ending:

Units in process

900

Percent complete with respect to materials

50

%

Percent complete with respect to conversion costs

70

%

Required:

Using the FIFO method:

Equivalent Units of Production for Direct materials

__________ (Do not enter commas in answer for example 5,000 should be entered as 5000)

Equivalent Units of Production for Conversion Costs

__________ (Do not enter commas in answer for example 5,000 should be entered as 5000)

Cost per Equivalent Unit Direct Materials

$__________ (Round to 2 decimal places)

Cost per Equivalent Unit Conversion Costs

$__________ (Round to 2 decimal places)

Total value of Ending Work in Process

$__________.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)

Total value of units transferred out

$__________.00 (Round to the nearest whole dollar and do not enter dollar signs or commas in answer for example $5,000 should be entered as 5000)

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