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Goode Company has the

Goode Company has the following production data for selected months.

           

Ending
Work in Process

Month

 

Beginning
Work in Process

 

Units
Transferred Out

 

Units

 

% Complete as to
Conversion Cost

January   -0-   40,560   10,900   45 %
March   -0-   42,800   9,100   70 %
July   -0-   47,270   17,400   20 %

Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.

   

Materials

 

Conversion Costs

January  

?   

 

?

March  

?

 

?

July  

?

 

?

Brief Exercise 3-6

Trek Company has the following production data for April: units transferred out 40,740, and ending work in process 6,080 units that are 100% complete for materials and 40% complete for conversion costs. If unit materials cost is $6 and unit conversion cost is $9.

Determine the costs to be assigned to the units transferred out and the units in ending work in process.

Transferred out  

$????

Ending work in process  

$????

Sanderson Company has the following production data for March: no beginning work in process, units started and completed 31,560, and ending work in process 5,070 units that are 100% complete for materials and 40% complete for conversion costs. Sanderson uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $14.

Determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $726,642.

Transferred out ???  

 

Ending work in process ???

Production costs chargeable to the Finishing Department in May at Kim Company are materials $7,780, labor $19,950, overhead $17,690, and transferred-in costs $67,130. Equivalent units of production are materials 20,000 and conversion costs 18,800. Kim uses the FIFO method to compute equivalent units.

Compute the unit costs for materials and conversion costs. Transferred-in costs are considered materials costs. (Round answers to 2 decimal places, e.g. 2.25.)

Materials cost per unit  

$???

Conversion cost per unit  

$???

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