Goode Company has the
Goode Company has the following production data for selected months.
Ending |
|||||||||
Month |
Beginning |
Units |
Units |
% Complete as to |
|||||
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.)
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