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Production costs chargeable to the Finishing Department in July in Lethbridge-Stewart Manufacturing are materials $60,000, labor $29,500, and overhead $11,000. Equivalent units of pro- duction
Production costs chargeable to the Finishing Department in July in Lethbridge-Stewart Manufacturing are materials $60,000, labor $29,500, and overhead $11,000. Equivalent units of pro- duction are materials 30,000 and conversion costs 27,000. Production records indicate that 25,000 units were completed and transferred out, and 5,000 units in ending work in process were 40% complete as to conversion costs and 100% complete as to materials. a. Compute the unit costs for materials and conversion costs. b. Prepare the "costs accounted for" section of a cost reconciliation schedule
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