Exercise 16-11 (Part Level Submission)

The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.

Production: Beginning inventory 1,660 units that are 100% complete as (its complete as, not complete a) to materials and 30% complete as (its complete as, not complete a) to conversion costs; units started during the period are 45,300; ending inventory of 7,700 units 10% complete as (its complete as, not complete a) to conversion costs.

Manufacturing costs: Beginning inventory costs, comprised of $22,000 of materials and $41,079 of conversion costs; materials costs added in Polishing during the month, $216,557; labor and overhead applied in Polishing during the month, $126,700 and $258,140, respectively.

(a)

Compute the equivalent units of production for materials and conversion costs for the month of September.

Materials Conversion Costs

The equivalent units of production $ $

(b)

Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials Conversion Costs

Unit Costs $ $

(c)

Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, e.g. 2.25 final answers to 0 decimal places, e.g. 1,225.)

Transferred out $

Ending work in process $