The Inventory at June 1 and Costs Charged to Work

question 123

Essay

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.
^a Equivalent units of production for conversion cost
^b Conversion cost per equivalent unit
^c Total and unit cost of finished goods started in prior period and completed in the current period
^d Total and unit cost of finished goods started and completed in the current period
^e Total cost of work in process inventory, June 30

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Definitions:

Assertive

Exhibiting confidence and directness in stating needs or opinions without being aggressive.

Competitor

Someone who manages conflict by being competitive and pushing ideas and solutions on others.

Accommodator

An individual or entity that adapts to meet the needs or requirements of others.

Manage Conflict

The process of identifying and addressing differences that threaten the harmony of a group or organization, aiming at positive resolution.