Problem Set 7 - Units to account for Whole Units Beginning...

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Units to account for:WholeUnitsBeginning InventoryStarted or Rec'd this monthTotal- Transferred OutEnding InventoryTotal- Equivalent UnitsConversion CostsWholeConversionLastThisUnitsMaterialCostsMonthMonthBeginning Inventory- Started and Completed- Transferred Out- - - Ending Inventory- - - - - - Cost of Beginning inventoryThis months costs incurred- - Divided by Eqs- - Cost per unit#DIV/0!#DIV/0!ConversionMaterialCostsTotalDollars to account for:Beginning InventoryCost incurred this month$- Account for total dollars:ConversionMaterialCostsTotalTransferred out0Cost of ending inventoryTotal costs accounted for:0
Weighted-average method(17-24)Bio Doc Corporation is a biotech company based in Milpitas. It makes acancer-treatment drug in a single processing department. Direct materialsare added at the start of the process. Conversion costs are added evenlyduring the process. Bio Doc uses the weighted-aveage method of processcosting. The following information for July 2011 is available.PhysicalUnitsWork in process, July 1 (a)8,500 Started during July35,000 Completed and transferred out during July33,000 Work in process, July 31 (b)10,500 Degree of completion:(a) direct materials 100%; conversion costs 20%(b) direct materials 100%; convesion costs 60%Total Costs for July 2008Work in process, beginningDirect materials$63,100 Conversion costs45,510 $108,610 Direct materials added during July284,900 Conversion costs added during July485,040 $878,550 Calculate cost per equivalent unit for direct materials and conversion costs.Summarize total costs to account for, and assign total costs to units completed (and transferred out) and to units in ending work-in-process.
Units to account for:WholeUnitsBeginning Inventory8,500 Started or Rec'd this month35,000 Total43,500 Transferred Out33,000 Ending Inventory10,500 Total43,500 Equivalent UnitsConversion CostsWholeConversionLastThisUnitsMaterialCostsMonthMonthBeginning Inventory8,500 Started and Completed24,500 Transferred Out

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