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CAN SOMEONE HELP WITH THIS QUESTION? THANKS Toronto Manufacturing Ltd. has the following cost and production data for the month of November. Beginning WIP Started
CAN SOMEONE HELP WITH THIS QUESTION? THANKS
Toronto Manufacturing Ltd. has the following cost and production data for the month of November. Beginning WIP Started in production Completed production Ending WIP 16,200 units 104,500 94,200 26,500 The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of November are as follows: Beginning inventory costs are: Materials $63,100 Direct labour 21,800 Factory overhead 13,900 Costs incurred during November include: Materials $552,470 Direct labour 195,000 Factory overhead 361,420 Calculate the equivalent units of production for materials and for conversion costs. Calculate the equivalent units of production for materials and for conversion costs. Conversion Costs Materials Equivalent units of production Determine the unit costs of production. (Round unit costs to 3 decimal places, e.g. 15.251.) Unit costs Materials $ Conversion costs $ Total Show the assignment of costs to units transferred out and in process. (Round answers to the nearest whole dollar, e.g. 5,275.) Transferred out $ Work in process Materials Conversion costs Conversion costs Total costsStep by Step Solution
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