1- The cost per equivalent units of direct materials and conversion in the Bottling Department of Mountain Springs Water Company is $.45 and $.12, respectively. The equivalent units to be assigned costs are as follows. Direct Materials Conversion Inventory in process, beginning of period 0 3,500 Started and completed during the period 57,000 57,000 Transferred out of Bottling (completed) 57,000 60,500 Inventory in process, end of period 3,500 1,800 Total units to be assigned costs 60,500 62,300 The beginning work in process inventory had a cost of $2,200. Determine the cost of completed and transferred out production, and the ending work in process inventory. HTML Editor 2. The inventory at May 1 and the costs charged to Work in Process--Department B during May for Stella Company are as follows: Beginning WIP, 12,000 units, 60% completed $ 62,400 From Department A, 55,000 units started this period Direct materials added 115,500 Direct labor incurred 384,915 Factory overhead incurred 138,000 During May, all direct materials are transferred from Department A, the units in process at May 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method. Prepare a cost of production report for May.
Paper#3092 | Written in 18-Jul-2015Price : $25