Data concerning a recent periodâs activity in the AssemblyDepartment, the first processing department in a company that usesprocess costing, appear below:
Materials Conversion Costof work in process inventory at the beginning of the period $ 3,200 $ 650 Equivalent units of production in the ending work inprocess inventory 400 200 Equivalent units of production required to complete thebeginning work
in process inventory 600 1,200 Costper equivalent unit for the period $ 2.32 $ 0.75
A total of 26,000 units were completed and transferred to thenext processing department during the period. Beginning work inprocess inventory consisted of 2,000 units and ending work inprocess inventory consisted of 1,000 units.
Required:
Using the FIFO method, compute the cost of the units transferredto the next department during the period and the cost of endingwork in process inventory.
Materials Conversion Total cost of units transfered to nextdepartment
Data concerning a recent periodâs activity in the AssemblyDepartment, the first processing department in a company that usesprocess costing, appear below:
| Materials | Conversion | |||
| Costof work in process inventory at the beginning of the period | $ | 3,200 | $ | 650 |
| Equivalent units of production in the ending work inprocess inventory | 400 | 200 | ||
| Equivalent units of production required to complete thebeginning work in process inventory | 600 | 1,200 | ||
| Costper equivalent unit for the period | $ | 2.32 | $ | 0.75 |
A total of 26,000 units were completed and transferred to thenext processing department during the period. Beginning work inprocess inventory consisted of 2,000 units and ending work inprocess inventory consisted of 1,000 units. |
| Required: |
Using the FIFO method, compute the cost of the units transferredto the next department during the period and the cost of endingwork in process inventory. |
| Materials | Conversion | Total | |
| cost of units transfered to nextdepartment |
Related questions
| Data concerning a recent periodâs activity in the AssemblyDepartment, the first processing department in a company that usesprocess costing, appear below:
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Data concerning a recent periodâs activity in the PrepDepartment, the first processing department in a company that usesprocess costing, appear below: Materials Conversion Equivalentunits of production in ending work in process 2,070 830 Cost perequivalent unit $14.56 $4.73 A total of 21,200 units were completedand transferred to the next processing department during theperiod. Required: Compute the cost of the units transferred to thenext department during the period and the cost of ending work inprocess inventory. (Round your final answers to the nearest wholedollar amount.)
Cost of ending work in process inventory: Materials???Conversion??? Total??
Cost of units transferred out Materials??? Conversion???Total???
Maria Am Corporation uses a process costing system. The BakingDepartment is one of the processing departments in its strudelmanufacturing facility. In June in the Baking Department, the costof beginning work in process inventory was $4,860, the cost ofending work in process inventory was $1,110, and the cost added toproduction was $25,100. |
| Required: |
Prepare a cost reconciliation report for the Baking Departmentfor June. |
