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What is the: -Ending Work in Progress -Equivalent Unit of Material / Unit Material Cost -Equivalent Unit of Conversion/ Unit Conversion Cost -Total Cost of
What is the: -Ending Work in Progress -Equivalent Unit of Material / Unit Material Cost -Equivalent Unit of Conversion/ Unit Conversion Cost -Total Cost of Unit Transfered Out -Cost of Ending Inventory
I attached my answers and wanted to double check that they're correct please.
The ledges of American Company has the following work in process account. Work in Process Painting Balance 3.890 5/31 Transferred out 2 5/31 Materials 6,400 5/31 Labor 4,998 5/31 Overhead 1.680 531 Balance 2 Production records show that there were 500 units in the beginning inventory, 30% complete, 1,700 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,840 and conversion costs of $1,050. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. a) Ending Work in Progress b) Equivalent Unit of Material UNIT MATERIAL COST c) Equivalent unit of conversion UNIT CONVERSION COST d) Total cost of unit transferred out e) Cost of ending inventory The ledger of American Company has the following work in process account. Work in Process -Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 6,400 5/31 Labor 4,998 5/31 Overhead 1,680 5/31 Balance 2 Production records show that there were 500 units in the beginning inventory, 30% complete, 1,700 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,840 conversion costs of $1,050. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process, 600 2,200 4.20 a) Ending Work in Progress b) Equivalent unit of material UNIT MATERIAL COST c) Equivalent unit of conversion UNIT CONVERSION COST d) Total cost of unit transferred out e) Cost of ending inventory 1,840 3.83 12,848 2,536Step by Step Solution
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