Materials cost and conversion cost per equivalent unit

Assignment Help Financial Accounting

Reference no: EM131262303

During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 69,000 were in process in the production department at the beginning of April and 276,000 were started and completed in April. April’s beginning inventory units were 80% complete with respect to materials and 20% complete with respect to conversion. At the end of April, 91,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion.

The production department had $890,028 of direct materials and $705,621 of conversion cost charged to it during April. Also, its beginning inventory of $212,066 consists of $154,472 of direct materials cost and $57,594 of conversion costs.

Using the weighted-average method, compute the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department’s output. (Round "Cost per EUP" to 2 decimal places.)

Reference no: EM131262303

Questions Cloud

Contract using the percentage-of-completion method : A construction company entered into a fixed-price contract to build an office building for $20 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. What wou..

The factory overhead account to cost of goods sold : A company’s Factory Overhead T-account shows total debits of $604,000 and total credits of $711,000 at the end of the year. Determine whether there is over- or underapplied overhead using the T-account below. Prepare the journal entry to close the ba..

Direct materials cost-conversion cost per equivalent unit : During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 64,000 were in process in the production department at the beginnin..

Materials cost and conversion cost per equivalent unit : During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Using the weighted-average method, compute the direct materials cost and the conversion cost pe..

Prepare journal entries to record these three transactions : During the current month, a company that uses job order costing purchases $54,000 in raw materials for cash. It then uses $16,000 of raw materials indirectly as factory supplies and uses $28,100 of raw materials as direct materials. Prepare journal e..

Calculate amount of revenue-gross profit to be recognized : In 2016, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2018. Calculate the amount of revenue and gross profit to be recognized in each of the three year..

What journal entries should clemens record for completion : Clemens Cars' job cost sheet for job A40 shows that the cost to add security features to a car was $19,500. The car was delivered to the customer, who paid $24,200 in cash for the added features. What journal entries should Clemens record for the com..

Possibility of making and selling paging equipment : Magneficent modems has excess productuction capacity and is considering the possibility of making and selling paging equipment. The following esimates are based on a production and sales volume of 1000 pagers. Unit levels manufacturing costs are expe..

User Account

All Pages