Case 4-63 Passera Inc. manufactures a single product in a continuous processing environment. All materials are added at the beginning of the process, and conversion costs are applied evenly throughout the process. To assign costs to inventories, the company uses weighted-average process costing. The following information was available for 2016: | Sales (selling price per unit, $40) | $4,080,000 | | Actual manufacturing overhead | 660,000 | | Selling and administrative expenses | 328,000 | | Unit costs of production: | | Direct materials (1 kilogram) | $ 6.00 | | Direct labour (1/2 hour) | 8.00 | | Overhead | 9.00 | | Total | $23.00 | | Units transferred to finished goods | 140,000 units | | Materials purchased | 125,000 kilograms | | Materials used in process | 136,000 kilograms | An inventory count at year end (December 31, 2016) revealed that the inventories had the following balances: | Raw materials | 8,000 kilograms | | Work in process (45% complete) | 22,000 units | | Finished goods | 45,000 units | The January 1, 2016, work in process units are 70% complete. The unit cost of production was the same in 2016 as it was in 2015. Calculate the following amounts for Passera Inc.: Warning | Don't show me this message again for the assignment |
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