Reference no: EM132850629
Question - Using the following data, answer the questions below. When you are given amounts to assume as the answers to the previous requirements, be careful to use such assumed amounts rather than your answers.
The Finishing Department of Curtis Corporation reports the following for January 2013:
PRODUCTION DATA
Beginning Work in Process - 30,000 units - 60% complete
Units started into Production - 250,000 units
Ending Work in Process - 12,000 units - 30% complete
MANUFACTURING COST DATA
Beginning Work in Process:
Materials - $40,000
Conversion Costs - $25,000
COSTS ADDED DURING THE PERIOD
Materials - $160,000
Conversion Costs - $342,500
Required -
1. Compute equivalent units of production for materials.
2. Compute equivalent units of production for Conversion Costs.
3. ASSUME your answers to (14) above was 250,000 units for materials: Compute the unit cost for materials.
4. ASSUME your answer to number (15) above was 245,000 units for conversion costs. Compute the unit cost for conversion costs.
5. ASSUME your answer to numbers (16) and (17) above were $.90 for the unit cost of materials and $2.10 for the unit cost for conversion costs. Determine the total costs to be assigned to the 268,000 units that are transferred out.
6. ASSUME the same unit costs as given in number (18) above: Determine the costs assigned to the 12,000 remaining in ending work in process.
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