Process Costing Chris Company manufactures portable generators. Each generator passes through the assembly and testing departments. The process costing system at Chris has a single direct cost category (direct materials) and a single indirect cost category (conversion costs). Direct materials are added at the beginning at the process. Conversion costs are added evenly during the process. When the Assembly Department finishes work on each generator, it is immediately transferred to the Testing Department. Chris Company uses the first-in-first-out method of process costing. Data for the Assembly Department for November are as follows: Percent Complete Units Costs DM Conv DM Conv DM Conv Work in Process, 1 Nov 100% 54% 6,000 6,000 $1,260,000 $400,000 Started during November 20,000 20,000 Completed 23,000 23,000 Work in Process, 30 Nov 100% 70% 3,000 3,000 Costs added in November $4,400,000 $2,300,000 (DM = Direct Material, Conv = Conversion) Direct materials are added when the testing department is 90 percent complete. Conversion costs are added evenly during the Testing Department's process. As work in assembly is completed, each unit is immediately transferred to testing. As each unit is completed in testing, it is immediately transferred to Finished Goods. Data for the Testing Department for November are as follows: $0 Percent Complete Units Costs TI DM Cony TI DM Conv TI DM Conv Work in Process, 1 Nov 100 0 52 7,400 7,400 7,400 $3,000,000 $1,000,000 Started during November 23,000 23,000 23,000 Completed 26,300 26,300 26,300 Work in Process, 30 Nov 100 0 64 4,100 4,100 4,100 Costs added in November $7,479,048 $10,000,000 $4,000,000 (DM = Direct Material, Conv = Conversion, TI = Transferred In) Required: 1. For the Assembly Department, what is the cost of units in process at the end of November? 2. For the Testing Department, what is the cost of units in process at the end of November? (Tip: The cost added in November to Transferred In is the same as the cost of units transferred out of Assembly). For the Testing Department, what is the cost of units completed and transferred to Finished Goods? 3. Process Costing Chris Company manufactures portable generators. Each generator passes through the assembly and testing departments. The process costing system at Chris has a single direct cost category (direct materials) and a single indirect cost category (conversion costs). Direct materials are added at the beginning at the process. Conversion costs are added evenly during the process. When the Assembly Department finishes work on each generator, it is immediately transferred to the Testing Department. Chris Company uses the first-in-first-out method of process costing. Data for the Assembly Department for November are as follows: Percent Complete Units Costs DM Conv DM Conv DM Conv Work in Process, 1 Nov 100% 54% 6,000 6,000 $1,260,000 $400,000 Started during November 20,000 20,000 Completed 23,000 23,000 Work in Process, 30 Nov 100% 70% 3,000 3,000 Costs added in November $4,400,000 $2,300,000 (DM = Direct Material, Conv = Conversion) Direct materials are added when the testing department is 90 percent complete. Conversion costs are added evenly during the Testing Department's process. As work in assembly is completed, each unit is immediately transferred to testing. As each unit is completed in testing, it is immediately transferred to Finished Goods. Data for the Testing Department for November are as follows: $0 Percent Complete Units Costs TI DM Cony TI DM Conv TI DM Conv Work in Process, 1 Nov 100 0 52 7,400 7,400 7,400 $3,000,000 $1,000,000 Started during November 23,000 23,000 23,000 Completed 26,300 26,300 26,300 Work in Process, 30 Nov 100 0 64 4,100 4,100 4,100 Costs added in November $7,479,048 $10,000,000 $4,000,000 (DM = Direct Material, Conv = Conversion, TI = Transferred In) Required: 1. For the Assembly Department, what is the cost of units in process at the end of November? 2. For the Testing Department, what is the cost of units in process at the end of November? (Tip: The cost added in November to Transferred In is the same as the cost of units transferred out of Assembly). For the Testing Department, what is the cost of units completed and transferred to Finished Goods? 3