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Q1) Cutting Department of Groneman Manufacturing has the following production and cost data for July.

Production

1. Transferred out 9,600 units.

2. Started 3,700 units that are 60% complete as to conversion costs and 100% complete as to materials at July 31.

Costs
Beginning Work in Process $ -0-
Materials 47,900
Labor 17,400
Manufacturing overhead 20,300

Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.

Find out the equivalent units of production for (1) materials and (2) conversion costs.

find out unit costs and prepare a cost reconciliation schedule.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918219

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