Question

The Cutting Department of Cassel Company has the following production and cost data for July. Production...

The Cutting Department of Cassel Company has the following production and cost data for July.

Production

Costs

1.

Transferred out 13,100 units.

Beginning work in process

$0

2.

Started 5,100 units that are 60%

Materials

60,060
complete as to conversion

Labor

14,568
costs and 100% complete as

Manufacturing overhead

22,600
to materials at July 31.

Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.
Your answer is correct.
Determine the equivalent units of production for (1) materials and (2) conversion costs.

Materials

Conversion Costs

Total equivalent units of production

enter a number of units enter a number of units

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Compute unit costs. (Round unit costs to 2 decimal places, e.g. 2.25.)

Materials

$enter a dollar amount rounded to 2 decimal places

Conversion costs

$enter a dollar amount rounded to 2 decimal places

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Prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 1,225.)

Cost Reconciliation

Costs accounted for

   Transferred out

$enter a dollar amount

   Work in process, July 31

      Materials

$enter a dollar amount

      Conversion costs

enter a dollar amount enter a total of the two previous amounts

         Total costs

$enter a total amount for this cost reconciliation schedule rounded to 0 decimal places

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