Moon Company produces baseball bats and cricket paddles. It has two departments that process all products-Cutting Department and Finishing Department. In Finishing Department, direct materials (DM) are added at the start of the process and conversion costs (CC) are added evenly during the process. Company is using Weighted Average method for the Finishing Department. During July, beginning work in process in the Finishing Department was 80% complete as to conversion. Beginning Inventories included $30,800 for transferred-in costs, $13,200 for direct materials, and $27,500 for conversion costs. Ending Inventory was 30% complete as to CC. Additional information about the Finishing Department follows: Beginning work-in-process units Units transferred in this period Units completed & transferred out Ending work-in-process units Material costs added Conversion costs Transferred-in costs Finishing 26,400 74,800 79,200 22,000 $37,400 $75,460 $141,240 Compute total cost per unit? Compute cost of units completed and transferred out in July?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Moon Company produces baseball bats and cricket paddles. It has two departments that process all products - Cutting Department and Finishing Department.
In Finishing Department, direct materials (DM) are added at the start of the process and conversion costs (CC) are added evenly during the process. Company is using Weighted Average method for the Finishing Department.
During July, beginning work in process in the Finishing Department was 80% complete as to conversion. Beginning inventories included $30,800 for transferred-in costs, $13,200 for direct materials, and $27,500 for conversion costs. Ending inventory
was 30% complete as to CC. Additional information about the Finishing Department follows:
Finishing
26,400
Beginning work-in-process units
Units transferred in this period 74,800
Units completed & transferred out 79,200
Ending work-in-process units
22,000
Material costs added
Conversion costs
Transferred-in costs
$37,400
$75,460
$141,240
Compute total cost per unit?
Compute cost of units completed and transferred out in July?
Transcribed Image Text:Moon Company produces baseball bats and cricket paddles. It has two departments that process all products - Cutting Department and Finishing Department. In Finishing Department, direct materials (DM) are added at the start of the process and conversion costs (CC) are added evenly during the process. Company is using Weighted Average method for the Finishing Department. During July, beginning work in process in the Finishing Department was 80% complete as to conversion. Beginning inventories included $30,800 for transferred-in costs, $13,200 for direct materials, and $27,500 for conversion costs. Ending inventory was 30% complete as to CC. Additional information about the Finishing Department follows: Finishing 26,400 Beginning work-in-process units Units transferred in this period 74,800 Units completed & transferred out 79,200 Ending work-in-process units 22,000 Material costs added Conversion costs Transferred-in costs $37,400 $75,460 $141,240 Compute total cost per unit? Compute cost of units completed and transferred out in July?
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