Question 31

Montreal Manufacturing Inc. has the following cost and production data for the month of April.

Beginning WIP

17,700

unitsStarted in production

104,400Completed production

90,800Ending WIP

31,300

The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process.

Costs pertaining to the month of April are as follows:

Beginning inventory costs are:Materials$64,000Direct labour21,000Factory overhead13,100Costs incurred during April include:Materials$595,080Direct labour191,400Factory overhead378,705

Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method.

MaterialsConversion costsTotalequivalent units

Calculate the unit costs for the month.(Round unit cost to 3 decimal places, e.g. 15.256.)

Unit costsMaterials

$

Conversion costs

$

Total$

Determine the costs to be assigned to the units transferred out and in ending work in process.(Round answers to 0 decimal places, e.g. 5,275.)

TotalMaterialsConversionBeginning Inventory$

$

$

Complete beginning WIP

Started and completed

Cost for units transferred out$

$

$

Ending work in process

Total costs$

$

$