Reference no: EM133091300
Question - Alpha makes ceramic vases out of specialized clay. During July, it purchased 500 kgs of clay at $60 per kg. It started manufacture of 4,000 vases and completed 3,200 vases during the month. The remaining 800 vases are in process at the end of the month. It incurred direct labor charges of $500 and other conversion costs of $400, which included electricity costs of $200. Alpha had no beginning or ending inventory of DM (clay). It also had no beginning inventory of vases. At the end of the period, the 800 vases in progress were 100% complete for direct materials (DM) and 50% complete for conversion costs.
Required -
1) What is the total conversion costs for the month of July?
2) What is the number of equivalent units completed for conversion costs?
3) What is the conversion cost per equivalent unit for the year?
4) How much are direct materials costs for the month?
5) What is the number of equivalent units completed for direct materials?
6) What is the direct materials cost per equivalent unit for the year?
7) Assume the beginning finished goods inventory was 0 (zero) and that Alpha sold 20% of its fully completed units, how much is ending FG inventory?
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