Account for equivalent units costs per equivalent

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Unformatted text preview: 0 _____ 36,600 50% Transferred In 17,600 - 3,750 $ 13,850 352,080 $365,930 37,600 $9.7322 Conversion $ 3,750 85,920 $89,670 36,600 $2.45 Total $ 17,600 438,000 $455,600 $12.1822 54 Sequential Production Departments: Weighted-Average Method Cost of goods completed and transferred out of the Saturating Department during November: number of units transferre d out total cost per equivalent unit 35,600 * $12.1822 $433,686 Cost remaining in November 30 work-in-process inventory in the Saturating Department: Transferred-in costs: Conversion: number of equivalent units of transferred - in cost number of transferred - in cost per equivalent unit 2,000 * $9.7322 $19,464 1,000 * $2.45 2,450 conversion equivalent units of cost per equivalent conversion unit Total cost of November 30 work in process Check: Cost of goods completed and transferred out Cost of November 30 work-in-process inventory Total costs accounted for Wang 2013 $21,914 $433,686 21,914 $455,600 55 Sequential Production Departments: FIFO Method PRODUCTION REPORT: GRADING DEPARTMENT (FIFO Method) Percentage of Equivalent Units Completion Physical with Units Direct Respect to Conversion Material Conversion Work in process, November 1 -0— Units started during November 36,000 Total units to account for 36,000 To complete November 1 work in process Units started and completed during November Work in process, November 30 Total units accounted for Wang 2013 -036,000 -036,000 100% — -036,000 -0______ 36,000 -036,000 -0______ 36,000 56 Sequential Production Departments: FIFO Method Cost is the same as weighted avg method Work in process, November 1 Costs incurred during November Total costs to account for Equivalent units for November only Costs per equivalent unit Direct Material -0$265,680 $265,680 36,000 $7.38 Conversion -0$86,400 $86,400 36,000 $2.40 Cost of goods completed and transferred out of the Grading Department during November: Cost of November 1 work-in-process inventory Total -0$352,080 $352,080 $9.78 -0- Cost incurred to produce uni...
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This document was uploaded on 03/06/2014.

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