Cost of Units Completed and in Process
The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.
TransactionDebit amountTransactionCredit amount
Bal., 30,000 units, 40% completed1,075,500To Finished Goods, 406,000 units?
Direct materials, 400,000 units @ $11.254,500,000
Direct labor4,012,000
Factory overhead20,060,000
Bal., ? units, 30% completed?
Cost per equivalent units of $11.25 for Direct Materials and $60.00 for Conversion Costs.
a. Based on the above data, determine the different costs listed below.
Line Item DescriptionAmount
1. Cost of beginning work in process inventory completed this period
2. Cost of units transferred to finished goods during the period
3. Cost of ending work in process inventory
4. Cost per unit of the completed beginning work in process inventory (Rounded to the nearest cent.)
