Question
The Cutting Department of Blossom Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 14,880 units. Beginning
The Cutting Department of Blossom Company has the following production and cost data for July.
Production | Costs | |||||
---|---|---|---|---|---|---|
1. | Completed and transferred out 14,880 units. | Beginning work in process | $0 | |||
2. | 3,720 units in ending working in process are 60% complete as to conversion costs and 100% complete as to materials at July 31. | Direct materials | 55,800 | |||
Direct labor | 20,088 | |||||
Manufacturing overhead | 22,692 |
Determine the equivalent units of production for (1) materials and (2) conversion costs.
Materials | Conversion Costs | |||
---|---|---|---|---|
Total equivalent units of production | enter a number of units | enter a number of units |
Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.)
Materials | $ enter a dollar amount | |
---|---|---|
Conversion costs | $ enter a dollar amount rounded to 2 decimal places |
Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.)
Cost Reconciliation | |||
---|---|---|---|
Costs accounted for | |||
Completed and Transferred out | $ enter a dollar amount | ||
Work in process, July 31 | |||
Materials | $ enter a dollar amount | ||
Conversion costs | enter a dollar amount | enter a subtotal of the two previous amounts | |
Total costs | $ enter a total amount for this schedule |
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