Solution-Determine the ending balance in work-in process

Determine the ending balance in work-in process

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Question - A manufacturing company uses process costing. Direct materials are added at the start of production while conversion costs are incurred uniformly throughout production. On June 1, all inventories had zero balances. During June, the company completed 16,000 units. Ending inventory consisted of 4,000 units that were 75% converted. During June, the company used materials of $80,000 in the production process and conversion costs were $57,000. Calculate cost per equivalent unit. Determine the ending balance in work-in process. Also provide journal entry for the units that were completed during June.

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Determine the ending balance in work-in process

Reference no: EM132937408

Reference no: EM132937408

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