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Assign costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the total from beginning inventory, then
Assign costs to units completed (and transferred out) and to units in ending work in process. Begin by calculating the total from beginning inventory, then calculate the total costs accounted for.
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Physical Units Transferred-In Direct Conversion (tons) Costs Materials Costs Work in process, beginning inventory (June 1) 60 $ 45,000 S 0S 18,000 100% Degree of completion, beginning work in process Transferred-in during June Completed and transferred out during June Work in process, ending inventory (June 30) 0% 50% 120 40 Degree of completion, ending work in process Total costs added during June 100% 0% 75% 20,000 S 33,000 S63,600 Total Transferred-In Direct Conversion Production Costs Costs Materials Costs Work in process, beginning Costs added in current period Total costs to account for alculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. (Round your answers to th 63,000 S 216,600 279,600 $ 45,000 S 120,000 165,000 $ 18,000 63,600 81,600 33,000 33,000$ Transferred-In Direct Conversion Costs Materials Costs Costs added in current period Divide by equivalent units of work done in current period Cost per equivalent unit 20,000 S 100 33,000 S 120 275.00S 63,600 120 530.00 ,200.00 Total Transferred-In Direct Conversion Production Costs Costs Materials Costs ompleted and transferred out Work in process, beginning 63,000 S 32,400 95,400 45,000 S 18,000 Costs added to beginning WIP in current period 16,500 15,900 Total from beginning inventory Started and completed 16,500 Total costs of units completed and transferred out Work in process, ending otal costs accounted for 15,900 33,000Step by Step Solution
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