Question
The Rest a-lot chair company manufactures a standard recliner. During February, the firms assembly department started production of 80,00 recliners. During the month, the firm
The Rest a-lot chair company manufactures a standard recliner. During February, the firms assembly department started production of 80,00 recliners. During the month, the firm completed 60,000 recliners, and transferred them to the finishing department. There were 8,000 recliners in beginning inventory. Beginning work-in-process was 40% complete as to direct materials. while ending work in process was 80% complete as to direct materials. In addition, beginning work in process was 39% complete as to conversation costs, while ending work in process was 50% complete as to conversion cost:
Beginning Inventory:
Direct Materials 50,000
Conversion costs 40,000
Manufacturing costs added during the accounting period:
Direct Materials 175,000
conversion cost 250,000
required:
how many recliners are in ending inventory?
Assuming weighted average:
What were the equivalent units for conversion costs during February?
what is the cost per equivalent units for direct materials?
what is the cost per equivalent units for conversion costs?
what is the amount of direct materials cost assigned to ending work in process inventory at the end of February?
what is the cost of goods transferred out during February?
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