Question
Overton Company has gathered the following information. Units in beginning work in process 20,700 Units started into production 231,800 Units in ending work in process
Overton Company has gathered the following information.
Units in beginning work in process 20,700 Units started into production 231,800 Units in ending work in process 24,200
Percent complete in ending work in process: Conversion costs 60 % Materials 100 %
Costs incurred: Direct materials $101,000 Direct labor $468,214 Overhead $187,400
a) Compute equivalent units of production for materials and for conversion costs.
b) Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.)
c) Show the assignment of costs to units transferred out and in process.
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