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will downvote if not complete correctly and fully Louisville Company produces baseball bats and cricket paddles. It has two departments (cutting and finishing) that process
will downvote if not complete correctly and fully
Louisville Company produces baseball bats and cricket paddles. It has two departments (cutting and finishing) that process all products. During July, beginning work in process in the finishing department was 100% complete as to transferred in costs, 0% as to materials, and 80% complete as to conversion costs. Direct materials for finishing the units are added at the end of the process. Beginning inventories included $128,000 for transferred-in costs and $28,000 for conversion costs. Ending inventory was 100% complete as to transferred in costs, 0% as to direct materials, and 30% complete as to conversion costs. Phy units Trans in DM Conversion Beginning WIP 24,000 $128,000 $0 $28,000 Units started this period 64,000 Units completed this period 68,000 Ending WIP units 20,000 Costs added during the period $48,000 $34,000 $68,500 Given the following information regarding physical and equivalent units, prepare a production cost worksheet (i.e., compute the cost per equivalent unit and cost all of the relevant units) using FIFO for the Finishing Department. Equivalent Units Physical Transferred Direct Conversion Flow of Production Units In Materials Costs Finish beginning inventory 24,000 0 24,000 4,800 Started and completed 44,000 44,000 44,000 44,000 Work in process-ending 20,000 20,000 0 6,000Step by Step Solution
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