Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,110 $ 14.96 Conversion 930 $ 6.03 A total of 20,400 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. Note: For all requirements, round your final answers to the nearest whole dollar amount. 1. Cost of ending work in process inventory 2. Cost of units transferred out Materials Conversion Total

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...
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Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process
costing, appear below:
Equivalent units in ending work in process inventory
Cost per equivalent unit
Materials
2,110
$ 14.96
Conversion
930
$ 6.03
A total of 20,400 units were completed and transferred to the next processing department during the period.
Required:
1. Compute the cost of ending work in process inventory for materials, conversion, and in total.
2. Compute the cost of the units completed and transferred out for materials, conversion, and in total.
Note: For all requirements, round your final answers to the nearest whole dollar amount.
1. Cost of ending work in process inventory
2. Cost of units transferred out
Materials
Conversion
Total
Transcribed Image Text:Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process inventory Cost per equivalent unit Materials 2,110 $ 14.96 Conversion 930 $ 6.03 A total of 20,400 units were completed and transferred to the next processing department during the period. Required: 1. Compute the cost of ending work in process inventory for materials, conversion, and in total. 2. Compute the cost of the units completed and transferred out for materials, conversion, and in total. Note: For all requirements, round your final answers to the nearest whole dollar amount. 1. Cost of ending work in process inventory 2. Cost of units transferred out Materials Conversion Total
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