Question
The Cutting Department of Crane Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 9.840 units.
The Cutting Department of Crane Company has the following production and cost data for July. Production Costs 1. Completed and transferred out 9.840 units. Beginning work in process $0 2. 2.460 units in ending working in process are 60% complete as to conversion costs and 100% Direct materials 36,900 complete as to materials at July 31. Direct labor 13.284 Manufacturing overhead 15,006 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Determine the equivalent units of production for (1) materials and (2) conversion costs. Total equivalent units of production Materials Conversion Costs Materials are entered at the beginning of the process. Conversion costs are incurred uniformly throughout the process. Determine the equivalent units of production for (1) materials and (2) conversion costs. Total equivalent units of production eTextbook and Media Materials Compute unit costs. (Round unit costs to 2 decimal places, eg. 2.25) Materials $ Conversion costs $ Conversion Costs Materials Conversion costs eTextbook and Media Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to O decimal places, es 1,225) Cost Reconciliation Costs accounted for Completed and Transferred out Work in process, July 31 Materials Conversion costs Total costs Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, eg. 2.25 and final answers to O decimal places, eg. 1.225) Cost Reconciliation Costs accounted for Completed and Transferred out Work in process, July 31 Materials Conversion costs Total costs eTextbook and Media -
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started