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Cost assignment ...

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Accounting

Cost assignment
Whole Units Direct Mat. % Added During the Month Direct Mat. Equiv. Units Conversion % Added During the Month Conversion Equiv. Units Beginning Inventory Direct Materials Conversion Total
Beg. Work in process 60,000 0% - 60% 36,000 FORMULA 19 FORMULA 22 FORMULA 25 $0
Started & Completed 150,000 100% 150,000 100% 150,000 FORMULA 20 FORMULA 23 FORMULA 26 $0
Ending Work in process 30,000 100% 30,000 70% 21,000 FORMULA 21 FORMULA 24 FORMULA 27 $0
Total 240,000 180,000 207,000 $0 $0 $0 $0
Direct Mat. Conversion Amount reported on the balance sheet as:
Cost per equivalent unit FORMULA 11 FORMULA 18 Finished goods inventory $ 129,600
Work in Process inventory $ 455,400

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