16-14 - 1614 1631 (1) GREYSON GRINDING COMPANY Process Cost...

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Unformatted text preview: 1614 1631 (1) GREYSON GRINDING COMPANY Process Cost Sheet (June) Equivalent Units Equivalent units for Equivalent Physical direct units for units materials conversion Units completed and transferred 16,000 16,000 16,000 Ending GIP inventory (40% processed) 8,000 8,000 3,200a Total 24,000 24,000 19,200 a8,000 x 40% Average Costs per Equivalent Unit Costs Average Costs in added costs per beginning + during = Total costs Equivalent equivalent inventory February accumulated units unit Direct materials $6,700 $22,580 $29,280 24,000 = $1 .22 Conversion 808 41,240 42,048 19,200 = 2. 19 Total $7 ,508 $63,820 $71 ,328 Costs Assigned To units completed and transferred to finished goods inventory Direct materials 16,000 equivalent units @ $1 .22 = $19,520 Conversion 16,000 equivalent units @ $2. 19 = 35,040 $54,560 To ending (June 30) goodsinprocess inventory Direct materials 8,000 equivalent units @ $1 .22 = $ 9,760 Conversion 3,200 equivalent units @ $2. 19 = 7 ,008 16,768 Total costs assigned $71,328 ...
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This homework help was uploaded on 04/08/2008 for the course ACC 102 taught by Professor Drucker during the Fall '07 term at Coastal Carolina University.

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