Goode Company has the following production data for selected months.
|
|
|
|
|
|
Ending
Work in Process
|
|
Month
|
|
Beginning
Work in Process
|
|
Units
Transferred Out
|
|
Units
|
|
% Complete as to
Conversion Cost
|
| January |
|
-0- |
|
40,560 |
|
10,900 |
|
45 |
% |
| March |
|
-0- |
|
42,800 |
|
9,100 |
|
70 |
% |
| July |
|
-0- |
|
47,270 |
|
17,400 |
|
20 |
% |
Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.
|
|
Materials
|
|
Conversion Costs
|
| January |
|
 ?
|
|
?
|
| March |
|
?
|
|
?
|
| July |
|
?
|
|
?
|
Brief Exercise 3-6
Trek Company has the following production data for April: units transferred out 40,740, and ending work in process 6,080 units that are 100% complete for materials and 40% complete for conversion costs. If unit materials cost is $6 and unit conversion cost is $9.
Determine the costs to be assigned to the units transferred out and the units in ending work in process.
| Transferred out |
|
$????
|
| Ending work in process |
|
$????
|
Sanderson Company has the following production data for March: no beginning work in process, units started and completed 31,560, and ending work in process 5,070 units that are 100% complete for materials and 40% complete for conversion costs. Sanderson uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $14.
Determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $726,642.
| Transferred out ??? |
|
|
|
Ending work in process ???
Production costs chargeable to the Finishing Department in May at Kim Company are materials $7,780, labor $19,950, overhead $17,690, and transferred-in costs $67,130. Equivalent units of production are materials 20,000 and conversion costs 18,800. Kim uses the FIFO method to compute equivalent units.
Compute the unit costs for materials and conversion costs. Transferred-in costs are considered materials costs. (Round answers to 2 decimal places, e.g. 2.25.)
| Materials cost per unit |
|
$???
|
| Conversion cost per unit |
|
$???
|
|