Matrix Inc. calculates cost for an equivalent unit of production using the FIFO method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) Conversion (50% completed) Balance in work in process inventory, July 11 Units started during July Units completed and transferred Work-in-process inventory, July 31 (24,000 units) Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials Conversion costs 1. Calculate equivalent units for direct materials and conversion cost. 2. Calculate cost per equivalent unit for DM and conversion cost. 3. Assign out total manufacturing costs to appropriate units. $ 122,400 76,800 $ 199,200 90,000 100,000 $ 195,000 290,000
Matrix Inc. calculates cost for an equivalent unit of production using the FIFO method. Data for July: Work-in-process inventory, July 1 (36,000 units): Direct materials (100% completed) Conversion (50% completed) Balance in work in process inventory, July 11 Units started during July Units completed and transferred Work-in-process inventory, July 31 (24,000 units) Direct materials (100% completed) Conversion (50% completed) Cost incurred during July: Direct materials Conversion costs 1. Calculate equivalent units for direct materials and conversion cost. 2. Calculate cost per equivalent unit for DM and conversion cost. 3. Assign out total manufacturing costs to appropriate units. $ 122,400 76,800 $ 199,200 90,000 100,000 $ 195,000 290,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 14E: Cost per equivalent unit The following information concerns production in the Forging Department for...
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