Exercise 3-10

Overton Company has gathered the following information.

Units in beginning work in process		21,190
Units started into production		250,810
Units in ending work in process		25,280
Percent complete in ending work in process:
Conversion costs		60	%
Materials		100	%
Costs incurred:
Direct materials		$108,800
Direct labor		$573,375
Overhead		$186,100

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Compute equivalent units of production for materials and for conversion costs.

		Materials		Conversion Costs
The equivalent units of production

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Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.)

		Materials		Conversion Costs
Unit costs		$		$

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Show the assignment of costs to units transferred out and in process. (Round answers to 0 decimal places, e.g. 1,225.)

Transferred out		$
Ending work in process		$