During Year 3, Anywhere, Inc. (Al) incurred the following product costs. Raw materials Labor Overhead $ 82,000 104,214 6

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During Year 3 Anywhere Inc Al Incurred The Following Product Costs Raw Materials Labor Overhead 82 000 104 214 6 1 (43.09 KiB) Viewed 34 times

During Year 3, Anywhere, Inc. (Al) incurred the following product costs. Raw materials Labor Overhead $ 82,000 104,214 68,000 The Year 2 ending balance in the Work in Process (WIP) account was $36,000. Accordingly, this is the beginning WIP balance for Year 3. There were 165 units of product in beginning WIP inventory. Al started 1,980 units of product during Year 3. Ending WIP inventory consisted of 140 units that were 70 percent complete. Required Prepare a cost of production report by filling in the cells that are left blank. Equivalent Unit Computations Units % Equivalent Complete Units 165 1,980 Beginning inventory Units started Total units available for completion Units in ending inventory Units complete Total equivalent units (140) 2,005 % 100% 2,103 Cost per Equivalent Unit Cost • Units Cost per Unit $ 36,000 Beginning inventory Raw materials Labor Overhead Total product cost 68,000 2,103 = Allocation of Product Cost Cost transferred to finished goods Cost in ending inventory Total product cost $ 290,214