Question
The Figure It Out Corporation manufactures two types of widgets, Regular Widget and Deluxe Widget. They are manufactured in two departments as follows: Department 1
The Figure It Out Corporation manufactures two types of widgets, Regular Widget and Deluxe Widget. They are manufactured in two departments as follows: Department 1 makes the Regular widget, some of which are sold as finished goods. Others are transferred to Department 2 that adds the super duper covering which are sold as Deluxe widgets. During the period, jobs were worked on. All work-in-process was completed. Job A was for 10,000 regular widgets and required $200,000 in materials. Job B was for 5,000 Deluxe widgets and required $100,000 of materials in department 1 and additional materials of $40,000 in Department 2. Total conversion costs for the period were as follows: Department 1 $180,000 Department 2 50,000 15. Calculate the cost per unit transferred to finished goods inventory for each job, Alpha and Beta $____________________ $__________________ JOB A JOB B 16. What would be the cost of goods manufactured for the period? $____________
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