Do It! Review 16-4

In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $9. On March 1, it had no work in process. During March, Kelly transferred out 20,000 units. As of March 31, 5,000 units that were 47% c0mplete as to conversion costs and 100% c0mplete as to materials were in ending work in process.

Compute the total units to be accounted for.

Total units_______

Compute the equivalent units of production.

Materials Conversion costs

The equivalent units of production__________ __________

Create a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.

Cost Reconciliation Schedule

Costs accounted for

Transferred out$_________

Work in process, March 31

Materials$_________

Conversion costs$_________$_________

Total costs$_________