8. The Molding Department of PQR Company has the following production and manufacturing costdata for September. Materials are entered at the beginning of the process.Production: Beginning inventory 1,600 units that are 100% complete as to materials and 30%complete as to conversion costs; units started during the period are 18,400; ending inventory of5,000 units 10% complete as to conversion costs.Manufacturing costs: Beginning inventory costs, comprised of $20,000 of materials and $43,180of conversion costs; materials costs added in Polishing during the month, $177,200; labor andoverhead applied in Polishing during the month, $102,680 and $257,140, respectively.Instructions(a) Compute the equivalent units of production for materials and conversion costs for the monthof September.(b) Compute the unit costs for materials and conversion costs for the month.(c) Determine the costs to be assigned to the units transferred out and in process.

Cost during a period has to allocated to the units that are actually produced.

Production: Beginning inventory 1,600 units th omplete as to conversion costs; units started ,000 units 10% complete as to conversion cos Manufacturing costs: Beginning inventory cos: of conversion costs; materials costs added in verhead applied in Polishing during the month

Production: Beginning inventory 1,600 units th omplete as to conversion costs; units started ,000 units 10% complete as to conversion cos Manufacturing costs: Beginning inventory cos: of conversion costs; materials costs added in verhead applied in Polishing during the month

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject: accounting
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