The Ledger of Kinsler Company Has the Following Work in Process

question 53

Essay

The ledger of Kinsler Company has the following work in process account.
Production records show that there were 700 units in the beginning inventory, 30% complete, 3,800 units started, and 4,000 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,240. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
Instructions
(a) How many units are in process at May 31?
(b) What is the unit materials cost for May?
(c) What is the unit conversion cost for May?
(d) What is the total cost of units transferred out in May?
(e) What is the cost of the May 31 inventory?

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Definitions:

Quality of Work Life (QWL)

The degree to which employees enjoy their jobs, work environment, and working conditions, aiming for higher job satisfaction and well-being.

Human Resource Utilisation

The effective and efficient use of the workforce in an organization through strategies that enhance productivity and ensure employees' skills are aptly matched with job requirements.

Economic Times

A general term that can refer to the current state of the economy, often used to discuss economic conditions or a newspaper covering economic news.

Functional Manager

A manager responsible for a specific department or function within an organization, such as finance, marketing, or operations.