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Prepare cost of production report

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Reference no: EM133004371

Sandust Inc. adds materials at the beginning of the process Materials Conversion Cost in Department 1. Conversion costs were 75% complete as to the 8,000 units in WIP on August 1 and 50% complete as to 6,000 units in WIP on August 31. During August, 12,000 units were completed and transferred to the next department.

An analysis of the cost relating to the WIP on August 1 and to production activity for August is as follows:

WIP, August 1 9,600 4,800

Cost Added in August 15,600 14,400

Problem 1. Prepare Cost of Production Report (CPR) using FIFO Method

Problem 2. Below the CPR, answer the following:

a. Equivalent units of Materials

b. Equivalent units of Conversion Cost

c. Cost per EUP

d. Cost of Units completed and transferred out

d. Cost of WIP, end

 

Reference no: EM133004371

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