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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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