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Question - Eastern Company has gathered the following information.
Units in beginning work in process 20,000
Units started into production 164,000
Units in ending work in process 24,000
Percent complete in ending work in process:
Conversion costs 60%
Materials 100%
Costs incurred:
Direct materials $101,200
Direct labor $164,800
Overhead $184,000
Required -
(a) Compute equivalent units of production for materials and for conversion costs.
(b) Determine the unit costs of production.
(c) Show the assignment of costs to units transferred out and in process.
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