Question
The following data relate to the coating department of Ronald Plastics Ltd for July. Unit data Work in process, 1 July (in units) Units started
The following data relate to the coating department of Ronald Plastics Ltd for July.
Unit data
Work in process, 1 July (in units)
Units started during July
Total units to account for.
Units completed and transferred out during July 70,000
Work in process, 31 July (in units). 50,000
Total equivalent units: direct material
Total equivalent units: conversion
New equivalent units accomplished in July: direct material 80,000
New equivalent units accomplished in July: conversion
Cost data
Work in process, 1 July: direct material 608000
Work in process, 1 July: conversion
Costs incurred during July: direct material 1224000
Costs incurred during July: conversion
Work in process, 1 July: total cost
Total costs incurred during July 2986800
Total costs to account for 3866800
Cost per equivalent unit: direct material
Cost per equivalent unit: conversion
Total cost per equivalent unit
Costs of good completed and transferred out during July
Cost remaining in ending work in process inventory:
Direct material
Conversion
Total cost of 31 July work in process
Additional information:
Direct material is added at the beginning of the production process, and conversion occurs uniformly throughout the process.
Ronald Plastics uses FIFO process costing.
1 July work in process was 30 per cent complete as to conversion. 31 July work in process was 40 per cent complete as to conversionRequired
- Calculate the missing amounts.
- Prepare the July production report for the coating department.
[All figures must be supported by workings]
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