Montreal Manufacturing Inc. has the following cost
by | Mar 18, 2020 | Uncategorized
Montreal Manufacturing Inc. has the following cost and production data for the month of April.
| Beginning WIP |
18,000 |
units |
| Started in production |
103,100 |
| Completed production |
91,500 |
| Ending WIP |
29,600 |
The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of process.
Costs pertaining to the month of April are as follows:
| Beginning inventory costs are: |
| Materials |
$65,800 |
| Direct labour |
20,400 |
| Factory overhead |
14,000 |
| Costs incurred during April include: |
| Materials |
$561,895 |
| Direct labour |
194,600 |
| Factory overhead |
374,521 |
|
|
|
|
|
Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method.
| Materials |
Conversion costs |
| Total equivalent units |
|
|
|
|
|
|
|
Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.)
| Unit costs |
| Materials |
$ |
| Conversion Costs |
$ |
| The unit costs for the month |
$ |
|
|
|
|
|
Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.)
| Total |
Material |
Conversion |
| Beginning Inventory |
$ |
$ |
$ |
| Complete beginning WIP |
|
|
|
| Started and completed |
|
|
|
| Cost for units transferred out |
$ |
$ |
$ |
| Ending work in process |
|
|
|
| Total costs |
$ |
$ |
$
|
|
|
|
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