Solution-Calculate the cost of items completed in may

Calculate the cost of items completed in may

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Reference no: EM131785233

Problem - Comprehensive Problem, One Department

Regal Polish manufactures a single product in one department and uses a process costing system. At the start of May, there were 10,200 units in process that were 100 percent complete with respect to direct material and 60 percent complete with respect to conversion costs (labor and overhead). During the month, the company began production of 107,000 units. Ending Work in Process Inventory consisted of 5,400 units that were 100 percent complete with respect to material and 70 percent complete with respect to conversion costs.

Cost Information	Beginning Work in Process	Costs Added in May
Direct material	$4,400	$81,156
Direct labor	280	14,745
Manufacturing overhead	350	13,520
Total	$5,030	$109,421

Calculate the cost per equivalent unit for each of the three cost items and in total.

Calculate the cost of items completed in May and the cost of ending Work in Process.

Reconcile the sum of the two costs in part b to the sum of beginning Work in Process and costs added in May.

Reference no: EM131785233

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Calculate the cost of items completed in may

Reference no: EM131785233

Reference no: EM131785233

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