The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows:
Total cost to be accounted for $880,400
During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1.On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed.Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process.
Determine the following: Round unit cost data to four decimal places, i.e., $4.4444, to minimize rounding differences.
^aEquivalent units of production for conversion cost
^bConversion cost per equivalent unit
^cTotal and unit cost of finished goods started in prior period and completed in the current period
^dTotal and unit cost of finished goods started and completed in the current period
^eTotal cost of work in process inventory, June 30

Question

The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows:

Total cost to be accounted for $880,400
During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1.On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed.Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process.
Determine the following: Round unit cost data to four decimal places, i.e., $4.4444, to minimize rounding differences.
^aEquivalent units of production for conversion cost
^bConversion cost per equivalent unit
^cTotal and unit cost of finished goods started in prior period and completed in the current period
^dTotal and unit cost of finished goods started and completed in the current period
^eTotal cost of work in process inventory, June 30

Quizplus · Accepted Answer

The Answer of The inventory at June 1 and costs charged to Work in Process-Department 60 during June are as follows: Total cost to be accounted for $880,400 During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1.On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed.Inventories are costed by the first-in, first-out method and all materials are added at the beginning of the process. Determine the following: Round unit cost data to four decimal places, i.e., $4.4444, to minimize rounding differences. ^aEquivalent units of production for conversion cost ^bConversion cost per equivalent unit ^cTotal and unit cost of finished goods started in prior period and completed in the current period ^dTotal and unit cost of finished goods started and completed in the current period ^eTotal cost of work in process inventory, June 30

The Inventory at June 1 and Costs Charged to Work