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Work in pr cess inventory, April 1 , 1 , 6 5 0 units; materials 1 0 0 % complete; conversion 8 8 % complete
Work in prcess inventory, April units; materials complete; conversion complete $ costs transferred in during the month from the preceding department, units Materials cost added during the month Conversion costs incurred during the month Total departmental costs Materials cost added during the month Conversion costs incurred during the month $ Total departmental costs Finishing Department costs assigned : Units completed and transferred finished goods, units $ per unit Work process inventory, April units; materials complete; conversion complete Total departmental costs assigned Consists of cost transferred in $; materials cost, $; and conversion cost, $ "He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is he's been away from process costing for a long time, and it's coming back slowly." "It's not just the format of his report Im concerned about. Look at that $ unit cost he's come up with for April. Doesn't that seem high to you?" said Ms Scarpino. "Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr Harrop. "I'll get someone else to redo this report and then we can see what's going on Provost Industries manufactures a ceramic product that goes through two processing departmentsMolding and Finishing. The company uses the weightedaverage method of process costing. Required: a Calculate the equivalent units of production. b Calculate the cost per equivalent unit. Note: Round your answers to decimal places. c How much cost should have been assigned to the ending work in process inventory? Note: Round your intermediate calculations to decimal places. d How much cost should have been assigned to the units completed and transferred to finished goods?
Work in prcess inventory, April units; materials
complete; conversion complete
$
costs transferred in during the month from the preceding
department, units
Materials cost added during the month
Conversion costs incurred during the month
Total departmental costs
Materials cost added during the month
Conversion costs incurred during the month $
Total departmental costs
Finishing Department costs assigned :
Units completed and transferred finished goods,
units $ per unit
Work process inventory, April units; materials
complete; conversion complete
Total departmental costs assigned
Consists of cost transferred in $; materials cost, $; and conversion cost, $
"He's struggling to learn our system," replied Frank Harrop, the operations manager. "The problem is he's been away from process costing for a long time, and it's coming back slowly."
"It's not just the format of his report Im concerned about. Look at that $ unit cost he's come up with for April. Doesn't that seem high to you?" said Ms Scarpino.
"Yes, it does seem high; but on the other hand, I know we had an increase in materials prices during April, and that may be the explanation," replied Mr Harrop. "I'll get someone else to redo this report and then we can see what's going on
Provost Industries manufactures a ceramic product that goes through two processing departmentsMolding and Finishing. The company uses the weightedaverage method of process costing.
Required:
a Calculate the equivalent units of production.
b Calculate the cost per equivalent unit.
Note: Round your answers to decimal places.
c How much cost should have been assigned to the ending work in process inventory?
Note: Round your intermediate calculations to decimal places.
d How much cost should have been assigned to the units completed and transferred to finished goods?
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