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Following is information about the assembly department of a company: 1. There were 184,900 units in work in process on August 1. With respect to
Following is information about the assembly department of a company:
1. | There were 184,900 units in work in process on August 1. With respect to units transferred in, 100% were complete and costs incurred amounted to $140,200. With respect to conversion, 75% of the units were complete and costs incurred amounted to $52,000. | |
2. | 485,800 units were transferred in from the cutting department during August. | |
3. | 612,900 units were completed during August and transferred to the finished goods inventory. | |
4. | During August, costs incurred were as follows: $490,258 for units transferred in from cutting, $355,482 for direct materials used, and $143,141 for conversion costs. | |
5. | There are 57,800 units in work in process on August 31. With respect to the units transferred in, 100% are complete and 65% are complete with respect to conversion. |
Prepare a production cost report. (Round unit costs to 7 decimal places, e.g. 0.1287345 and all other answers to 0 decimal places, e.g. 5,275.)
Transferred in | Direct Materials | Conversion costs | Totals | ||||||||
Units to be accounted for: | |||||||||||
Work in process, Aug. 1 | fill in | ||||||||||
Units transferred in | fill in | ||||||||||
fill in | |||||||||||
Units accounted for: | |||||||||||
Transferred out | fill in | fill in | fill in | ||||||||
Work in process, Aug. 31 | fill in | fill in | fill in | ||||||||
Costs in August | $ fill in | $ fill in | $fill in | $ fill in | |||||||
Equivalent units | fill in | fill in | fill in | ||||||||
Unit cost | $ fill in | $ fill in | $ fill in | $ fill in | |||||||
Costs to account for: | |||||||||||
Work in process, Aug. 1 | $ fill in | ||||||||||
Started into production | fill in | ||||||||||
$ fill in | |||||||||||
Costs accounted for | |||||||||||
Transferred out | $ fill in | ||||||||||
Work in process, Aug. 31 | |||||||||||
Transferred in | $ fill in | ||||||||||
Conversion costs | fill in | ||||||||||
Total costs | $ fill in |
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