Question
Jameson's Manufacturing Inc.'s debits to Work in Process-Assembly Department for July, together with data concerning production, are as follows: July 1, work in process: Materials
Jameson's Manufacturing Inc.'s debits to Work in Process-Assembly Department for July, together with data concerning production, are as follows:
July 1, work in process: |
|
Materials cost, 3,000 units | $ 8,000 |
Conversion costs, 3,000 units, 66.7% completed | 6,000 |
Materials added during July, 10,000 units | 30,000 |
Conversion costs during July | 31,000 |
Goods finished during July, 11,500 units | 0 |
July 31 work in process, 1,500 units, 50% completed | 0 |
All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for July is
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