FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, $ 2.25 and
final answers to 0 decimal places, eg 1.225.)
Transferred out
Ending work in process
eTextbook and Media
$
$
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Transcribed Image Text:Determine the costs to be assigned to the units transferred out and in process. (Round unit costs to 2 decimal places, $ 2.25 and final answers to 0 decimal places, eg 1.225.) Transferred out Ending work in process eTextbook and Media $ $
The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are
entered at the beginning of the process.
Production: Beginning inventory 1.500 units that are 100% complete as to materials and 30% complete as to conversion costs: units
started during the period are 40,000; ending inventory of 5,000 units 10% complete as to conversion costs.
Manufacturing costs: Beginning inventory costs, comprised of $20,100 of materials and $11,110 of conversion costs; materials costs
added in Polishing during the month, $166,650; labor and overhead applied in Polishing during the month, $125,700 and $257.240.
respectively..
Compute the equivalent units of production for materials and conversion costs for the month of September.
The equivalent units of production
eTextbook and Media
Unit costs $
Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g.2.25.)
Materials
Materials
eTextbook and Media
Conversion Costs
Conversion Costs
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Transcribed Image Text:The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning inventory 1.500 units that are 100% complete as to materials and 30% complete as to conversion costs: units started during the period are 40,000; ending inventory of 5,000 units 10% complete as to conversion costs. Manufacturing costs: Beginning inventory costs, comprised of $20,100 of materials and $11,110 of conversion costs; materials costs added in Polishing during the month, $166,650; labor and overhead applied in Polishing during the month, $125,700 and $257.240. respectively.. Compute the equivalent units of production for materials and conversion costs for the month of September. The equivalent units of production eTextbook and Media Unit costs $ Compute the unit costs for materials and conversion costs for the month. (Round unit costs to 2 decimal places, e.g.2.25.) Materials Materials eTextbook and Media Conversion Costs Conversion Costs
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