Reference no: EM13142698
The Smelting Department of Amber Manufacturing Company has the following production cost data for September.
Production: Beginning work in process 2,000 units that are 100% complete as to materials and 20% complete as to conversion costs; units started and finished 11,000 units; and ending work in process 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.
Manufacturing costs: Work in process, September 1, $15,200 materials added $60,000 labor and overhead $143,000.
Amber uses the FIFO method to compute equivalent units.
Compute the equivalent units of production for materials and conversion costs for the month of September:
Compute the unit costs for materials and conversion costs for the month.
Determine the costs to be assigned to the units transferred out and in process.
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