Toy Truck Corporation produces children's toy trucks using acontinuous production process. All direct materials are added atthe beginning of the process. In November, the beginning work inprocess inventory was 420 units, which were 50 percent complete;the ending balance was 400 units, which were 70 percent complete.During November, 15,000 units were started into production. TheWork in Process Inventory account had a beginning balance of $937for direct materials costs and $370 for conversion costs. In thecourse of the month, $35,300 of direct materials were added to theprocess, and $31,689 of conversion costs were assigned.
Using the data given and assuming that the company uses theaverage costing method, prepare a process cost report that computesthe equivalent units for November, the product unit cost for thetoys, and the ending balance in the Work in Process Inventoryaccount. Round cost per equivalent unit to the five decimal places.For the percentages, do not enter the percent sign. For example,60% would be entered as 60.
