Reference no: EM132536426
Moon Jae-In Company produces Covid-19 test kits. It has two departments that process all products. (Manufacturing job flows from assembly to packaging) During March 2020, the beginning work in process in the assembly department was half completed as to conversion, and complete a to direct materials. The beginning inventory included $44,000 for materials and $66,000 for conversion costs. Ending work-in-process inventory in the assembly department was 45% complete. Direct materials are added at the beginning of the process.
Beginning work in process in the packaging department was 80% complete a to conversion. Direct materials for packaging the units are added at the end of the process. Beginning inventories included $24,000 for transferred-in costs and $28,000 for conversion costs. Ending inventory was 30% complete. Additional information about the two departments follows:
Assembly Packaging
Beginning work-in-process units 20,000 24,000
Units started this period 60,000
Units transferred-out this period 64,000 68,000
Ending work-in-process units 20,000
Material costs added $48,000 $34,000
Conversion costs $28,000 $68,500
Transferred-out cost $128,000
Required:
Using FIFO for the packaging department, find the following.
Question 1: Total # of equivalent units for direct materials
Question 2: Cost per equivalent unit for conversion costs
Question 3: Cost per equivalent unit for transferred-in costs
Question 4: The dollar value of total costs transferred out
Question 5: The dollar value of ending WIP
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