Question

Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning...

Montreal Manufacturing Inc. has the following cost and production data for the month of April.
Beginning WIP 17,100 units
Started in production 104,500
Completed production 91,300
Ending WIP 30,300

The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process.

Costs pertaining to the month of April are as follows:
Beginning inventory costs are:
     Materials $66,100
     Direct labour 19,500
     Factory overhead 13,600
Costs incurred during April include:
     Materials $569,525
     Direct labour 199,100
     Factory overhead 359,860
Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method.
Materials Conversion costs
Total equivalent units
Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.)
Unit costs
Materials $
Conversion costs $
Total $
Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.)
Total Materials Conversion
Beginning Inventory $ $ $
Complete beginning WIP
Started and completed
Cost for units transferred out $ $ $
Ending work in process
Total costs $ $ $

Homework Answers

Answer #1

Physical Units

Working process begining 17100
Started during period 104500
To account for 121600
Good unit compleeted 91300
Working process ending 30300
To account for 121600

Equivalent Units

Direct Materials Conversion Costs
Completion of Begining working process - 6840
Started & Compleeted 74200 74200
Starting of Ending working process 30300 12120
TOTAL EUP - FIFO 102700 93160

Cost per equivalent Units

Costs Total Direct Material Conversion Cost
Cost during the period 1128485 569525 558960
Divided by Equivalent units 102700 93160
Equivalent unit costs 11.546 5.546 6

Assigned of cost

Cost of goods copmleeted and transferred durung the month :

=74200 * 5.564 + 81040 * 6 = 412848.8 + 486240 = 899088.8

Cost of goods ending working process :

= 30300 * 5.546 + 6 * 12120 = 168043.8 + 72720 = 24076.38

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