Question

(#7)Equivalent Units of Production and Related Costs The charges to Work in Process—Assembly Department for a...

(#7)Equivalent Units of Production and Related Costs

The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production.

Work in Process-Assembly Department
Bal., 5,000 units, 45% completed 18,100 To Finished Goods, 115,000 units ?
Direct materials, 118,000 units @ $2 236,000
Direct labor 332,300
Factory overhead 129,265
Bal. ? units, 70% completed ?

Determine the following:

a. The number of units in work in process inventory at the end of the period.
units

b. Equivalent units of production for direct materials and conversion. If an amount is zero or a blank, enter in "0".

Work in Process-Assembly Department
Equivalent Units of Production for Direct Materials and Conversion Costs
Whole Units Equivalent Units Direct Materials Equivalent Units Conversion
Inventory in process, beginning
Started and completed
Transferred to finished goods
Inventory in process, ending
Total units

c. Costs per equivalent unit for direct materials and conversion. If required, round your answers to the nearest cent.

Costs Per Equivalent Unit
Direct Materials $
Conversion $

d. Cost of the units started and completed during the period.
$

Homework Answers

Answer #1

a) Ending work in process unit = 5000+118000-115000 = 8000

b) Equivalent unit :

Whole unit Equivalent Units Direct Materials Equivalent unit conversion
Inventory in process, beginning 5000 0 5000*55% = 2750
Started and completed 110000 110000 110000
Transferred to finished goods 115000 110000 112750
Inventory in process, ending 8000 8000 8000*70% = 5600
Total Units 123000 118000 118350

c) Cost per equivalent unit

Direct material = 236000/118000 = 2

Conversion = (332300+129265)/118350 = 3.90

d) Cost of units started and completed = 5.9*110000 = $649000

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