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I want correct answer please Murphy Painting Company has the following production data for March. Production Data Beginning Work in Process % Complete as to
I want correct answer please
Murphy Painting Company has the following production data for March. Production Data Beginning Work in Process % Complete as to Month Units Conversion Cost March 2,000 50% Ending Work in Process Units Completed % Complete as to and transferred Out Units Conversion Cost 4,000 3,500 60% Cost Data ? WORK IN PROCESS_FINISHING Balance, March 1 8,000 Transferred out Materials 1.800 Labor 3,800 Overhead 2800 Balance ? The beginning work in process had conversion costs of $3,300. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. The Finishing Department uses a process cost accounting system and a weighted average cost flow assumption. Instructions (1) Compute equivalent units of production for March for both materials and conversion costs. (2) Compute unit costs and prepare a cost reconciliation schedule. Physical Units Value Value Equivalent Units Materials Conversion Costs Value Value Completed and transferred out Ending work in process Materials Conversion costs60% complete Total units Value Value ? Total Work in process, March 1 Costs added to production during June Total Equivalent Units Unit Cost Direct materials cost Conversion costs Value Value Value Value ? ? Value Value ? Unit Value unit cost Value ? Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 Materials Conversion costs Total costs Value Value Value Value Value ValueStep by Step Solution
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