Sheridan Company has gathered the following information. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Costs incurred: Direct materials Direct labor Overhead The equivalent units of production Unit costs Transferred out Materials Ending work in $ Compute equivalent units of production for materials and for conversion costs. Materials 20,900 process 249,100 26,100 $ 60 Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.) 100 $108,000 $580,202 $185,500 Conversion Costs Show the assignment of costs to units transferred out and in process. Conversion Costs % %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Sheridan Company has gathered the following information.
Units in beginning work in process
Units started into production
Units in ending work in process
Percent complete in ending work in
process:
Conversion costs
Materials
Costs incurred:
Direct materials
Direct labor
Overhead
The equivalent units
of production
Unit costs
Transferred out
Materials
Ending work in
$
Materials
20,900
Compute equivalent units of production for materials and for
conversion costs.
process
249,100
26,100
$
60
100
Determine the unit costs of production. (Round unit costs to 2
decimal places, e.g. 2.25.)
$108,000
$580,202
$185,500
Conversion
Costs
Show the assignment of costs to units transferred out and in
process.
Conversion Costs
%
%
Transcribed Image Text:Sheridan Company has gathered the following information. Units in beginning work in process Units started into production Units in ending work in process Percent complete in ending work in process: Conversion costs Materials Costs incurred: Direct materials Direct labor Overhead The equivalent units of production Unit costs Transferred out Materials Ending work in $ Materials 20,900 Compute equivalent units of production for materials and for conversion costs. process 249,100 26,100 $ 60 100 Determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 2.25.) $108,000 $580,202 $185,500 Conversion Costs Show the assignment of costs to units transferred out and in process. Conversion Costs % %
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