The debits to Work in ProcessAssembly Department for May, together with data concerning production, are...
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Finance
The debits to Work in ProcessAssembly Department for May, together with data concerning production, are as follows:
May 1, work in process:
Materials cost, 3,000 units
$7,000
Conversion costs, 3,000 units, 50% completed
5,300
Materials added during May, 10,000 units
27,600
Conversion costs during May
33,200
Goods finished during May, 11,500 units
0
May 31 work in process, 1,500 units, 50% completed
0
All direct materials are placed in process at the beginning of the process and the first-in, first-out method is used to cost inventories. The materials cost per equivalent unit for May is
$2.76
$3.32
$4.02
$2.40
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