Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Rolling Department of

Cost of Units Transferred Out and Ending Work in Process

The costs per equivalent unit of direct materials and conversion in the Rolling Department of Oak Ridge Steel Company are $180 and $62, respectively. The equivalent units to be assigned costs are as follows:

Equivalent Units
Direct Materials Conversion
Inventory in process, July 1 0 225
Started and completed during July 1,900 1,900
Transferred out of Rolling (completed) 1,900 2,125
Inventory in process, July 31 500 200
Total units to be assigned costs 2,400 2,325

The beginning work in process inventory on July 1 had a cost of $80,000. Determine the cost of completed and transferred-out production, the ending work in process inventory, and the total costs assigned by the Rolling Department.

Completed and transferred-out production $
Inventory in process, ending $
Total costs assigned by the Rolling Department $

10. EX.17-05.ALGO

Equivalent Units of Production

The Converting Department of Hopkinsville Company had 720 units in work in process at the beginning of the period, which were 70% complete. During the period, 15,200 units were completed and transferred to the Packing Department. There were 800 units in process at the end of the period, which were 70% complete. Direct materials are placed into the process at the beginning of production.

Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount is zero, enter in "0".

Hopkinsville Company
Number of Equivalent Units of Production
Whole Units Direct Materials Equivalent Units Conversion Equivalent Units
Inventory in process, beginning
Started and completed
Transferred to Packing Department
Inventory in process, ending
Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Electronic Health Records An Audit And Internal Control Guide

Authors: Rebecca S. Busch

1st Edition

0470258209, 978-0470258200

More Books

Students also viewed these Accounting questions

Question

How are payments calculated under the add- on interest method?

Answered: 1 week ago