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The Polishing Department of Mason Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process.
The Polishing Department of Mason Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,000 ; ending inventory of 7,000 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,100 of materials and $10,912 of conversion costs; materials costs added in Polishing during the month, $209,832; labor and overhead applied in Polishing during the month, $126,500 and $258,040, respectively. Compute the equivalent units of production for materials and conversion costs for the month of September. (Hint: Calculate Transferred Out units first.) - For units, they MUST be typed as a whole number, meaning it should NOT include any fractions or decimals. For example, if you answer is 100 units, you MUST type 100. Compute the unit costs for materials and conversion costs for the month. (Hint: Divide costs by the equivalent units calculated.) - Round unit costs to 2 decimal places, e.g. 2.25. - When typing your responses, do NOT include a dollar sign. Determine the costs to be assigned to the units transferred out and in process. (Hint: You need to multiply equivalent units for each cost by its unit cost.) - Round your answer to 0 decimal places, e.g. 10,000. - When typing your responses, do NOT include a dollar sign. The Polishing Department of Mason Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1,580 units that are 100% complete as to materials and 30% complete as to conversion costs; units started during the period are 41,000 ; ending inventory of 7,000 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,100 of materials and $10,912 of conversion costs; materials costs added in Polishing during the month, $209,832; labor and overhead applied in Polishing during the month, $126,500 and $258,040, respectively. Compute the equivalent units of production for materials and conversion costs for the month of September. (Hint: Calculate Transferred Out units first.) - For units, they MUST be typed as a whole number, meaning it should NOT include any fractions or decimals. For example, if you answer is 100 units, you MUST type 100. Compute the unit costs for materials and conversion costs for the month. (Hint: Divide costs by the equivalent units calculated.) - Round unit costs to 2 decimal places, e.g. 2.25. - When typing your responses, do NOT include a dollar sign. Determine the costs to be assigned to the units transferred out and in process. (Hint: You need to multiply equivalent units for each cost by its unit cost.) - Round your answer to 0 decimal places, e.g. 10,000. - When typing your responses, do NOT include a dollar sign
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