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The cutting department of Groneman Manufacturing has the following production and cost data for July....

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Accounting

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The cutting department of Groneman Manufacturing has the following production and cost data for July. Production Costs 1. Transferred out 12,100 units. Beginning work in process $0 2. Started 3,400 units that are 60% Materials 43,400 complete in terms of conversion Labour 15,700 costs and 100% complete in terms of materials at July 31. Manufacturing overhead 6,924 Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. (a) Your answer is correct Determine the equivalent units of production for materials and conversion costs. Materials Conversion Costs 15500 14140 Total equivalent units Calculate unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 15.25.) Unit costs Materials Conversion costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, July 31 Materials Conversion costs ho Total costs

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