16-13 - 1613 1630 (1) APOLLO CHEMICAL COMPANY Process Cost...

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Unformatted text preview: 1613 1630 (1) APOLLO CHEMICAL COMPANY Process Cost Sheet (February) Equivalent Units Equivalent Equivalent Physical units for units for units direct materials conversion Completed and transferred 1 ,400 1 ,400 1,400 Ending GIP inventory (60% processed) 300 300 180a Total 1,700 1 ,700 1 ,580 a300 x 60% Average Costs per Equivalent Unit Total costs Equivalent Average costs per accumulated units equivalent unit Direct materials $3,910 1 ,700 = $2.30 Conversion 4,266 1 ,580 = 2.70 Total $8, 76 1 Costs Assigned To units completed and transferred to finished goods inventory Direct materials 1 ,400 equivalent units @ $2.30 = $3,220 Conversion 1 ,400 equivalent units @ $2.70 = 3,780 $7 ,000 To ending (February 28) goodsinprocess inventory Direct materials 300 equivalent units @ $2.30 = $ 690 Conversion 180 equivalent units @ $2.70 = 486 1 1 , 76 Total costs assigned $8, 76 1 (2) Assets = Liabilities + Stockholders' Equity GoodsinProcess Inventory Finished Goods Inventory Bal $8, 76 1 -- 7 ,000 +$7 ,000 Bal $1 1 , 76 ...
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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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