Chap004 (dragged) 43 - PROBLEM 4-41(30 MINUTES 1 a Cost of...

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McGraw-Hill/Irwin ¤ 2005 The McGraw-Hill Companies, Inc. 4 - 44 Solutions Manual PROBLEM 4-41 (30 MINUTES) 1. a. Cost of units completed and transferred to finished-goods inventory during February: Units completed and transferred out .............................................. 5,950 Total cost per equivalent unit .......................................................... u $16.00 Cost of units completed and transferred out ................................. $95,200 b. To compute the cost of the Finishing Department's work-in-process inventory on February 28, first determine the number of units in ending work-in- process inventory, as follows: Work-in-process inventory, February 1 (in units) .......................... 700 Add: Units transferred in .................................................................. 7,000 Units to account for ........................................................................... 7,700 Less: Units transferred to finished goods ...................................... 5,950 Work-in-process inventory, February 28 (in units) ........................ 1,750 Then compute the transferred-in, direct-material, and conversion costs in the
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