8.40(2)

# 8.40(2) - 43,200,000 2,500,000 6,475,000 Total Costs to be...

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8.40 (60 min) Production cost report, weighted average a. Note: Answers might differ due to rounding the cost per equivalent unit calculation. Flow of Units Degree of Completion Equivalent Units Units to be accounted for Physical units Trans. In Mat'ls Conv. Trans. In Materials Conversion Beginning WIP 1,000 100% 60% 75% 1,000 600 750 Units Transferred In 6,000 Total units to account for 7,000 Units accounted for Completed and transferred out* 4,300 100% 100% 100% 4,300 4,300 4,300 Ending WIP 2,700 100% 80% 45% 2,700 2,160 1,215 Total units accounted for 7,000 7,000 6,460 5,515 Equivalent units 7,000 6,460 5,515 Costs to be accounted for Costs Trans. In Materials Conversion Costs in beginning WIP \$ 8,120,000 \$ 7,100,000 \$ 600,000 \$ 420,000 Current period costs 52,175,000

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Unformatted text preview: 43,200,000 2,500,000 6,475,000 Total Costs to be accounted for \$ 60,295,000 \$ 50,300,000 \$ 3,100,000 \$ 6,895,000 Cost per equivalent unit \$ 7,185.71 \$ 479.88 \$ 1,250.23 Costs accounted for Completed and Transferred out \$ 38,338,014 \$ 30,898,571 \$ 2,063,467 \$ 5,375,975 Ending WIP 21,956,986 19,401,429 1,036,533 1,519,025 Total costs accounted for \$ 60,295,000 \$ 50,300,000 \$ 3,100,000 \$ 6,895,000 * 4,300 = 7,000 - 2,700 EXCEL SOLUTIONS ARE FOUND IN EXCEL SOLUTIONS FILE 8.40 (continued) b. WIP BB 8,120,000 TI 52,175,00 0* TO 38,338,01 4 EB 21,956,98 6 * Transfers-in cost represents the total of shredding process costs, direct material costs, and conversion costs; \$52,175,000 = \$43,200,000 + \$2,500,000 + \$6,475,000...
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## This note was uploaded on 11/25/2010 for the course ACCT 33010 taught by Professor Staff during the Spring '08 term at Kent State.

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8.40(2) - 43,200,000 2,500,000 6,475,000 Total Costs to be...

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