The packaging department has started with 120,000 units and the following production and cost data...
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Accounting
The packaging department has started with 120,000 units and the following production and cost data for the current department.
Beginning Units Ending
Work in Process Completed Work in Process
15,000 95,000 40,000
The ending work in process units are 80% complete as to direct materials and 60% complete as to conversion costs. The costs are distributed as follows:
DM Conversion Costs
Beginning WIP $ 86,000 98,000
Costs added during the period $ 358,500 378,000
Instructions:
Compute the following: (show all calculations)
1- Equivalent units of production=
2- Unit Production cost as follows:
a- Unit material cost=
b- Unit conversion cost=
3- The cost of completed units =
Direct material cost for completed units
Conversion cost for completed units
4- The cost of ending work in process=
Direct material cost for completed units
Conversion cost for completed units
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