Essay
The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows:
Total cost to be accounted for $880,400
During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1.On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed.Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process.
Determine the following: Round unit cost data to four decimal places, i.e., $4.4444, to minimize rounding differences.
a Equivalent units of production for conversion cost
b Conversion cost per equivalent unit
c Total and unit cost of finished goods started in prior period and completed in the current period
d Total and unit cost of finished goods started and completed in the current period
e Total cost of work in process inventory, June 30
Correct Answer:
Verified
Correct Answer:
Verified
Q22: Conversion costs are usually incurred evenly throughout
Q84: In applying the first-in, first-out method of
Q106: The three categories of manufacturing costs comprising
Q107: If a department that applies FIFO process
Q120: The number of equivalent units produced with
Q127: Match each phrase that follows with the
Q150: Equivalent production units are generally determined for<br>A)
Q155: Costs are transferred, along with the units,
Q175: All direct materials are placed in process
Q193: Department S had 500 units 60% completed