Question
Consider the following data for the month of May 2018, about the Assembly Department of the Summer Corporation, which uses a procedural cost system: Initial
Consider the following data for the month of May 2018, about the Assembly Department of the Summer Corporation, which uses a procedural cost system:
Initial Inventory of Products in Process (60% completed) 100 units
Units started 620 units
Units completed and transferred 640 units
Final Inventory of Products in Process (75% completed) 80 units
Costs of conversion in the initial inventory of products in the process. $ 900
Costs of materials in the initial inventory of products in process $ 1,600
Initial inventory costs of products in the process: $ 2,500
Current period conversion costs $ 9,600
Material Costs of the current period $ 5,600
Current costs added during the period: $ 15,200
The materials are added at the beginning of the process.
Prepare the worksheet using average costs
| Flow of Production | Physical Units | Direct Materials | Conversion |
| Work in process, beginning |
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| Started during period |
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| To account for |
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| Units transferred out |
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| Work in process, ending |
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| Accounted for |
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| Costs | Totals | Direct Materials | Conversion |
| Work in process, beginning |
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| Costs added during period |
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| Total costs to account for |
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| Divided by equivalent units |
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| Equivalent-unit costs |
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| Assignment of costs |
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| Transferred out |
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| Work in process, ending |
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| Direct materials |
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| Conversion |
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| Costs accounted for |
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