Question
As the cost manager/accountant of XYZ Company, you have been provided with the following information. Use Excel to complete the assignment. Specifics Amount ($) Inventory
As the cost manager/accountant of XYZ Company, you have been provided with the following information.
Use Excel to complete the assignment.
Specifics | Amount ($) |
Inventory in process, April 1, 7,000 gallons: | |
Direct materials cost, for 7,000 gallons | 7,000 |
Conversion costs, for 7,000 gallons, 70% completed | 3,225 |
Total inventory process, April 1 | 10,225 |
Direct materials cost for April, 62,000 gallons | 68,000 |
Direct labor cost for April | 12,500 |
Factory overhead applied for April | 9,275 |
Total production cost to account for | 100,000 |
Gallons transferred to Packaging in April (includes units in process on April 1), 64,000 gallons | ? |
Inventory in process, April 30, 5,000 gallons, 25% conversion costs | ? |
Requirements
Find the total number of units to be assigned cost during the month of April? (20 points)
What are the total equivalent units for Direct materials? (20 points)
What are the total equivalent units for conversion cost? (20 points)
What is the cost per equivalent unit for direct materials? (10 points)
What is the convention cost per equivalent unit? (10 points)
Allocate cost to units transferred out and partially completed. (20 points)
EXAMPLE EXCEL FILE FORMAT
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