Assignment3bFacultyLabVersion - Conversion Costs Totals...

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Pearson Interactive Computer Assignments (PICA) Assignment 3b: Process Costing, Single Department Registered User: Yang Xu Student Number: 307198650 Units in process (WIP), July 1 0 Units started 50,000 35,000 Stage of conversion cost completion when chemical is introduced: Chemical P 0% Chemical Q 75% July Costs Degree Of Completion Conversion costs $135,000 67% Chemical P $250,000 100% Chemical Q $70,000 0% REQUIRED 1: Compute the equivalent units in the mixing department in July. Equivalent Units Flow of Production Chemical P Chemical Q 35,000 35,000 35,000 35,000 Work in process, ending 15,000 15,000 - 10,000 Accounted for (units started) 50,000 Work done to date 50,000 35,000 45,000 REQUIRED: 2 (a): Compute the cost of goods completed and transferred to the refining department during July. 2 (b): Compute the cost of work in process as of 31 July.
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Unformatted text preview: Conversion Costs Totals Chemical P Chemical Q Costs Total costs to account for $455,000 $250,000 $70,000 $135,000 Divide by equivalent units n/a 50,000 35,000 45,000 Equivalent unit costs n/a $5.00 $2.00 $3.00 Conversion Assignment of Costs Totals Chemical P Chemical Q Costs Completed & transferred out $350,000 $175,000 $70,000 $105,000 Ending work-in-process $105,000 $75,000 $- $30,000 Total costs accounted for $455,000 $250,000 $70,000 $135,000 Chemical Q is added at the three-fourths stage of conversion cost completion in the department. Your IF formula should result in 0% or 100% as appropriate for the current conversion cost completion %. Physical Units Conversion Costs Help / Self Assessment Custom Menu Same features as PICA menu command. Click to use. Formal Assessment...
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This note was uploaded on 08/10/2009 for the course ACCT 2012 taught by Professor Frost during the Two '08 term at University of Sydney.

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