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Question - The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company is $0.50 and $0 20, respectively. The equivalent units to be assigned costs are as follows:
Equivalent Units
Direct Materials
Conversion
Inventory In process, beginning of period
0
3,400
Started and completed during the period
50,850
Transferred out of Bottling (completed)
54,250
Inventory in process, end of period
3,550
2,700
Total unit to be assigned costs
$4,400
56,950
The beginning work in process inventory had a cost of $3,390. Determine the cost of completed and transferred out production and the ending work in process Inventory.
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