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Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete 88,000 Pounds started into production during May 530,000 Pounds completed and transferred
Production data: | ||
Pounds in process, May 1; materials 100% complete; conversion 90% complete | 88,000 | |
Pounds started into production during May | 530,000 | |
Pounds completed and transferred out | ? | |
Pounds in process, May 31: materials 60% complete; conversion 40% complete | 65,000 | |
Cost data: | ||
Work in process inventory, May 1: | ||
Materials cost | $ | 106,000 |
Conversion cost | $ | 59,700 |
Cost added during May: | ||
Materials cost | $ | 551,120 |
Conversion cost | $ | 328,230 |
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1.
Compute the equivalent units of production. Materials conversion
|
2.
Compute the costs per equivalent unit for the month. Materials Conversion |
3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.
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