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AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 230 pounds of alloy in process, which were 60% complete as to conversion. The Work in Process balance for these 230 pounds was $32,844, determined as follows:
Description Dollar amount
Direct materials (230 x $123) $28,290
Conversion (230 x 60% x $18) 2,484
Total direct materials 30,774

Sagot :

The total direct materials cost of $30,774 for the 230 pounds of alloy in process includes the cost of the raw materials used to make the alloy.

The raw materials used to make the alloy typically include metals such as aluminum, copper, nickel, and iron, among others. The cost of these materials would be the total of what was paid for each of the metals necessary to make the alloy.

The conversion cost of $2,484 for the 230 pounds of alloy in process reflects the cost of the labour and overhead associated with melting the alloy and pouring it into molds. This cost would include wages for the workers who are involved in melting and pouring the alloy, as well as any overhead costs such as electricity and gas used in the process.

The total Work in Process balance of $32,844 for the 230 pounds of alloy in process is the sum of the direct materials cost and the conversion cost. This amount reflects the cost incurred by AccuBlade Castings Inc. in producing the castings.

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