QUESTION 1:

Units to be Assigned Costs Ivy Cosmetics Company consists of two departments, Blending and Filling. The Filling Department received 68,200 ounces from the Blending Department. During the period, the Filling Department completed 78,800 ounces, including 14,000 ounces of work in process at the beginning of the period. The ending work in process inventory was 3,400 ounces. How many ounces were started and completed by the Filling Department during the period? Equivalent Units of Materials Cost The Filling Department of Ivy Cosmetics Company had 4,300 ounces in beginning work in process inventory (40% complete). During the period, 71,700 ounces were completed. The ending work in process inventory was 3,600 ounces (10% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 5,800 ounces in beginning work in process inventory (80% complete). During the period, 44,500 ounces were completed. The ending work in process inventory was 4,000 ounces (50% complete). What are the total equivalent units for conversion costs? Cost per Equivalent Unit The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is $90,860. The conversion cost for the period in the Filling Department is $112,800. The total equivalent units for direct materials and conversion are 64,900 ounces and 70,500 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: $:] per ounce Conversion costs per equivalent unit: $:] per ounce Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $1.05 and $1.20, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period 0 2,300 Started and completed during the period 33,000 33,000 Transferred out of Filling (completed) 33,000 35,300 Inventory in process, and of period 4,000 1,200 Total units to be assigned costs 37,000 36,500 The beginning work in process inventory had a cost of $1,430. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar. Completed and transferred out of production $:] Inventory in process, ending $:]