Process Costing with Equivalent Units and Beginning Inventory

question 30

Essay

Process costing with equivalent units and beginning inventory
The records of Westminster Manufacturing Company for the month of May show the following costs in Department A: The beginning inventory for May consisted of 10,000 units that were 80% complete as to direct materials and 60% complete as to labor and overhead.A total of 100,000 units were completed and transferred out during May,and 20,000 units remained in the work in process inventory.The ending inventory was 80% complete as to direct materials and 40% complete as to labor and overhead.Compute the following:
(a)Direct materials cost per equivalent unit: $________
(b)Equivalent units of production for direct labor and overhead: ________
(c)Total cost of 100,000 units completed: $________
(d)Total cost of 20,000 units in process at the end of the month: $________

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Definitions:

Duct Tape

is a strong, flexible, and adhesive tape originally designed for sealing ductwork but widely used for various repair, crafting, and securing needs.

Endless Chain Referral Method

A method of prospecting whereby a salesperson asks each buyer for a list of friends who might also be interested in buying the product.

Salesperson

A professional who specializes in selling products or services to customers, using knowledge, persuasion, and interpersonal skills to achieve sales goals.

Refers

The act of directing someone to a different source or person for information, help, or action.