Answer Happy

LO 5.4 Given the following information, prepare a production report with materials added at the beginning and ending work in process inventory being 25% complete with regard to conversion costs. Costs to Account For Beginning inventory: materials Beginning inventory: conversion Direct materials Direct labor Applied overhead Transferred-in materials Transferred-in conversion Total costs to account for $ 5,000 1,000 24,170 44,500 12,400 8,000 10,200 $105,270 Units to Account For Beginning work in process Units started into production Transferred out 3,500 85,000 84,000
Completed & Transferred Out Ending Work In Process Inventory Total Units to Account for Units Equivalent Units of Production Materials Units transferred to the next department Ending work in process inventory: Materials Conversion Equivalent units of production Conversion
Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the period Total cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units transferred out Total cost accounted for
Costs per Equivalent Unit Materials Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit Costs of Ending Work in Process Inventory and the Units Transferred Out Materials Conversion Ending work in process inventory: Equivalent units of production Cost per equivalent unit Cost of ending work in process inventory Conversion Units completed and transferred out: Units transferred to the next department Cost per equivalent unit Cost of units transferred out Total