Question

The inventory at April 1, 2020, and the costs charged to Work in Process--Department B during...


The inventory at April 1, 2020, and the costs charged to Work in Process--Department B during April for Worldwide Company are as follows:

1,200 units, 40% completed

$  47,800

From Department A, 26,000 units

845,000

Direct labor

312,000

Factory overhead

176,770

During April, all direct materials are transferred from Department A. In Department B, the units in process at April 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units which were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method.

Required:

Prepare a cost of production report for Department B for the month April 2020.

Homework Answers

Answer #1
UNITS Whole Units Direct materials Conversion
Units charged to production:
Inventory in process, April 1 1200
Received from Department A 26000
Total units accounted for by Dept. B 27200
Units to be assigned costs:
Inventory in process, April 1 (40% completed) 1200 0 720
Started and completed in April 25000 25000 25000
Transferred to finished goods in April 26200 25000 25720
Inventory in process, April 30 (70% complete) 1000 1000 700
Total units to be assigned costs 27200 26000 26420
Direct materials Conversion Total costs
COSTS
Units costs:
Total costs for April in Dept. B $          8,45,000 $          4,88,770
Total equivalent units $             26,000 $             26,420
Cost per equivalent unit $               32.50 $               18.50
Costs charged to production:
Inventory in process, April 1 $      47,800
Costs incurred in April $ 13,33,770
Total costs accounted for by Department B $ 13,81,570
Costs allocated to completed andpartially completed units:
Inventory in process, April 1, bal. $      47,800
To complete inventory in process, April 1 $                      -   $             13,320 $      13,320
Started and completed in April $          8,12,500 $          4,62,500 $ 12,75,000
Transferred to finished goods in April $          8,12,500 $          4,75,820 $ 12,88,320
Inventory in process, April 30 $             32,500 $             12,950 $      45,450
Total costs assigned by Dept. B $          8,45,000 $          4,88,770 $ 13,33,770
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