Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Ask your questions and receive detailed answers from professionals with extensive experience in various fields. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $194,560. The conversion cost for the period in the Filling Department is $98,340. The total equivalent units for direct materials and conversion are 25,600 ounces and 29,800 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.
Direct materials cost per equivalent unit: $ per ounce
Conversion costs per equivalent unit: $ per ounce
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.20 and $0.65, respectively. The equivalent units to be assigned costs are as follows:
Equivalent Units
Direct Materials Conversion
Inventory in process, beginning of period 0 3,600
Started and completed during the period 45,000 45,000
Transferred out of Filling (completed) 45,000 48,600
Inventory in process, end of period 3,000 1,500
Total units to be assigned costs 48,000 50,100
The beginning work in process inventory had a cost of $2,380. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.

Completed and transferred-out production $
Inventory in process, ending $

Sagot :

Tundexi

Answer:

Part 1

Direct material cost per equivalent units = $194,560 / 25,600 ounces

Direct material cost per equivalent units = $ 7.60 per ounce

Conversion Cost per equivalent units = $98,340 / 29,800 ounce

Conversion Cost per equivalent units = $3.30 per ounce

Part 2

Completed and Transferred out of production = $2380 + (45,000* $2.20) + (3,600 * $0.65) + (45,000 * $0.65)

= $2,380 + $99,000 + $2,340 + $29,250

= $132,970

Inventory in process, ending = (3000 * $2.20) + (1500 * $0.65)

= $6,600 + $975

= $7,575

Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.