Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period,together with information concerning production, are as follows.All direct materials are placed in process at the beginning ofproduction.
| Work inProcess—Assembly Department |
|---|
| Bal.,7,000 units, 55% completed | 17,815 | ToFinished Goods, 161,000 units | ? |
| Directmaterials, 165,000 units @ $1.5 | 247,500 | | |
| Directlabor | 235,800 | | |
| Factoryoverhead | 91,700 | | |
| Bal. ?units, 60% completed | ? | | |
Cost per equivalent units of $1.50 for Direct Materials and$2.00 for Conversion Costs.
a. Based on the above data, determine thedifferent costs listed below.
If required, round your interim calculations to two decimalplaces.
| 1. Cost of beginning work inprocess inventory completed this period. | $ |
| 2. Cost of units transferredto finished goods during the period. | $ |
| 3. Cost of ending work inprocess inventory. | $ |
| 4. Cost per unit of thecompleted beginning work in process inventory, rounded to thenearest cent. | $ |
