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Po co has gathered the following info:

Units in beginning work in process = 0
Units started into production = 36,000
Units in ending work in process = 6,000
% complete for conversion costs in ending work in process = 40%
Costs incurred:
Direct materials = $72,000
Direct Labor = $81,000
Overhead = $97,200

Q1) Compute equivalent units of production for materials and for conversion costs.
Materials:
Conversion cost:


Q2) Determine the unit costs of production
Unit Cost Materials:
Unit Cost-Conversion costs

Q3) Show the assignment of costs to units transferred out and in process.
Units transferred out
Units in ending work in process

Submitted: 234 days and 18 hours ago.
Category: Homework
Value: $18
Status: CLOSED
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Optional Information

Level: BA 3rd year; Subject: Accounting

Already Tried:
Read chapter.
Tried example questions.

Please display workings so I can gain an understanding of this concept.

Thanks,
XXXXXXX

Posted by Annie Kavitha 234 days and 16 hours ago.

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231 days and 22 hours ago.

Reply

Hi - Can you please check the Conversion costs "Cost per equivalent Unit" as it appears that $2.50 is incorrect.

 

Please revert by 11:00 pm (GMT) on Apri 4th.

Thanks

231 days and 21 hours ago.

Reply

I worked this out in the end the conversion rate in question was $7.50.

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Expert: BusinessTutor
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Accepts: 
Answered: 4/5/2009

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Posted by Annie Kavitha 231 days and 10 hours ago.

Info Request

Hello XXXXXXX,

 

Sorry I was away when you sent the message. Also I am sorry for the mistake I made. For conversion cost I took only the direct labor cost and overlooked overhead cost and didn't notice it.

 

Sorry for the inconvenience.

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