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The Blending Department of Hancock Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct
The Blending Department of Hancock Company has the following cost and production data for the month of April. Costs: Work in process, April 1 Direct materials: 100% complete $100,000 Conversion costs: 20% complete 70,000 Cost of work in process, April 1 $170,000 Costs incurred during production in April Direct materials $800,000 Conversion costs 362,000 Costs incurred in April $1,162,000 Units transferred out totaled 14,000. Ending work in process was 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs. Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of April. Materials= ??????$ Conversion costs=??????$ Compute the unit costs for the month. Unit cost-Materials =??????$ Unit cost-Conversion costs =??????$ Determine the costs to be assigned to the units transferred out and in ending work in process. Transferred out =$?????? Work in process =??????$ Materials =??????$ Conversion costs =??????$ Total costs =??????$
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