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Determine the cost of ending work in process

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Question - Manzer Company uses the FIFO method to account for the cost of production. For crushing, the first processing department, the following equivalent units schedule has been prepared for November:

Direct materials conversion cost

Units started and completed 22,000 22,000

Units beginning work in process: 10,000*0% ---- --- 10,000*40% ---- 4,000

Units ending work in process  6,000*100% 6,000 ---- 6,000*75% ---- 4,500

Equivalent units of output 28,000 30,500

The cost per equivalent unit for the period was as follows:

Direct materials $3.00

Conversion cost 5.00

Total $8.00

The cost of beginning work in process was direct materials, $30,000; conversion costs, $25,000

Required

1. Determine the cost of ending work in process and the cost of goods transferred out

2. Prepare a physical flow schedule

Reference no: EM131776343

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