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The Smelting Department of Amber Manufacturing Company has the following production cost data for September.

Production: Beginning work in process 2,000 units that are 100% complete as to materials and 20% complete as to conversion costs; units started and finished 11,000 units; and ending work in process 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.

Manufacturing costs: Work in process, September 1, $15,200 materials added $60,000 labor and overhead $143,000.

Amber uses the FIFO method to compute equivalent units.

Compute the equivalent units of production for materials and conversion costs for the month of September:

Compute the unit costs for materials and conversion costs for the month.

Determine the costs to be assigned to the units transferred out and in process.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M974215

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