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Miller Outdoor Equipment (MOE) makes four models of tents. The model names are Rookie, Novice, Hiker, and Expert. MOE manufactures the tents in two departments:
Miller Outdoor Equipment (MOE) makes four models of tents. The model names are Rookie, Novice, Hiker, and Expert. MOE manufactures the tents in two departments: Stitching and Customizing. All four models are processed initially in Stitching where all material is assembled and sewn into a basic tent. The Rookie model is then transferred to finished goods. After processing in Stitching, the other three models are transferred to Customizing for additional add-ons, and then transferred to finished goods. There were no beginning work-in-process inventories on August 1. Data for August are shown in the following table. Ending work in process is 45 percent complete in Stitching and 30 percent complete in Customizing. Conversion costs are allocated based on the number of equivalent units processed in each department. Total Rookie Novice Hiker Expert: Units started Units completed in Stitching Units completed in Customizing 610 490 300 250 545 440 270 210 430 245 185 Materials $63,310 $22,570 $15,190 $10,800 $14,750 Conversion costs: Stitching $53,260 Customizing 30,000 Total conversion costs $83,260 Required: a. What is the unit cost of each model transferred to finished goods in August? b. What is the balance of the Work-in-Process Inventory on August 31 for Stitching? For Customizing? Required: a. What is the unit cost of each model transferred to finished goods in August? b. What is the balance of the Work-in-Process Inventory on August 31 for Stitching? For Customizing? Complete this question by entering your answers in the tabs below. Required A Required B What is the unit cost of each model transferred to finished goods in August? (Round intermediate calculations to nearest whole number.) Product Unit Cost Rookie Novice Hiker Expert Required A Required B What is the balance of the Work-in-Process Inventory on August 31 for Stitching? For Customizing? (Round intermediate calculations to nearest whole number.) Stitching Customizing Work-in-Process Inventory Miller Outdoor Equipment (MOE) makes four models of tents. The model names are Rookie, Novice, Hiker, and Expert. MOE manufactures the tents in two departments: Stitching and Customizing. All four models are processed initially in Stitching where all material is assembled and sewn into a basic tent. The Rookie model is then transferred to finished goods. After processing in Stitching, the other three models are transferred to Customizing for additional add-ons, and then transferred to finished goods. There were no beginning work-in-process inventories on August 1. Data for August are shown in the following table. Ending work in process is 45 percent complete in Stitching and 30 percent complete in Customizing. Conversion costs are allocated based on the number of equivalent units processed in each department. Total Rookie Novice Hiker Units started 610 490 300 Expert 250 Units completed 545 440 270 210 in Stitching Units completed in Customizing Materials 430 245 185 $63,310 $22,570 $15,190 $10,800 $14,750 Conversion costs: Stitching $53,260 Customizing 30,000 Total conversion $83,260 costs Required: a. What is the unit cost of each model transferred to finished goods in August? b. What is the balance of the Work-in-Process Inventory on August 31 for Stitching? For Customizing? Complete this queion by entering your answers in the tabs below. Required Required A B What is the balance of the Work-in-Process Inventory on August 31 for Stitching? For Customizing? (Round intermediate calculations to nearest whole number.) Work-In- Process Stitching Customizing Inventory
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