Chapter4Solution - Excel Templates Chapter 4 Student Name...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Excel Templates Chapter 4 Student Name: <Type your name here> Class: <Type your class here>
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Problem 4-22 Given Data: REUTTER COMPANY Production data: Inventory, July 1: Units 60,000 Materials complete 60% Conversion complete 30% Materials cost $27,000 Conversion cost $13,000 Units started into production 510,000 Inventory, July 31: Units 70,000 Materials complete 80% Conversion complete 40% Cost added during July: Materials cost $468,000 Conversion cost $357,000
Background image of page 2
<Type your name here> <Type your class here> Excel Templates Chapter 4 Problem 4-22 Part 1 Equivalent Units of Production Materials Conversion To complete beginning work in process: Materials 60,000 40% 24,000 Conversion 60,000 70% 42,000 Units started and completed during the period : 440,000 100% 440,000 440,000 Ending work in process: Materials 70,000 80% 56,000 Conversion 70,000 40% 28,000 Equivalent units of production 520,000 510,000 Part 2 Cost per Equivalent Unit Materials Conversion Cost added during the period $468,000 $357,000 Divide by: Equivalent units of production 520,000 510,000 Cost per equivalent unit $0.90 $0.70 Part 3 Costs of Ending Work in Process Inventory and Units Transferred Out Materials Conversion Total Ending work in process inventory: Equivalent units of production 56,000 28,000 Cost per equivalent unit $0.90 $0.70 Cost of ending work in process inventory $50,400 $19,600 $70,000 Units transferred out: Cost in beginning work in process inventory $27,000 $13,000 $40,000 Cost to complete the units in beginning work in process inventory: 24,000 42,000 Cost per equivalent unit $0.90 $0.70 Cost to complete the units in beginning inventory $21,600 $29,400 $51,000 Cost of units started and completed this period: Units started and completed this period 440,000 440,000 Cost per equivalent unit $0.90 $0.70 Cost of units started and completed this period $396,000 $308,000 $704,000 Cost of units transferred out $795,000 Part 4 Cost Reconciliation Materials Conversion Total Number of Units Percentage Completed During Current Period Equivalent units of production required to complete the beginning inventory
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Costs to be accounted for: Cost of beginning work in process inventory
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 13

Chapter4Solution - Excel Templates Chapter 4 Student Name...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online