Question
Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) 28,400
Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include:
WIP beginning (50% for conversion) | 28,400 units |
Units started | 124,000 units |
Units completed and transferred out | 107,000 units |
WIP ending (50% for conversion) | 45,400 units |
Beginning WIP direct materials | $53,200 |
Beginning WIP conversion costs | $19,600 |
Costs of materials added | $442,100 |
Costs of conversion added | $304,650 |
Required:
What are the total equivalent units for direct materials?
What are the total equivalent units for conversion costs?
What is the cost per equivalent unit for direct materials?
What is the cost per equivalent unit for conversion costs?
What is the total cost of units completed and transferred out?
What is the total cost of units remaining in ending WIP?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started