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Cost assignment Whole Units Direct Mat. % Added During the Month Direct Mat. Equiv. Units Conversion % Added During the Month Conversion Equiv. Units Beginning
| Cost assignment | ||||||||||||
| Whole Units | Direct Mat. % Added During the Month | Direct Mat. Equiv. Units | Conversion % Added During the Month | Conversion Equiv. Units | Beginning Inventory | Direct Materials | Conversion | Total | ||||
| Beg. Work in process | 60,000 | 0% | - | 60% | 36,000 | FORMULA 19 | FORMULA 22 | FORMULA 25 | $0 | |||
| Started & Completed | 150,000 | 100% | 150,000 | 100% | 150,000 | FORMULA 20 | FORMULA 23 | FORMULA 26 | $0 | |||
| Ending Work in process | 30,000 | 100% | 30,000 | 70% | 21,000 | FORMULA 21 | FORMULA 24 | FORMULA 27 | $0 | |||
| Total | 240,000 | 180,000 | 207,000 | $0 | $0 | $0 | $0 | |||||
| Direct Mat. | Conversion | Amount reported on the balance sheet as: | ||||||||||
| Cost per equivalent unit | FORMULA 11 | FORMULA 18 | Finished goods inventory | $ 129,600 | ||||||||
| Work in Process inventory | $ 455,400 | |||||||||||
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Accounting
Authors: John Hoggett, Lew Edwards, John Medlin
6th Edition
0470806583, 978-0470806586
