Minicase 5–Process Cost Accounting
Question # 00491270
Posted By:
Updated on: 02/27/2017 01:04 AM Due on: 02/27/2017
The Assembly Department of CTD Corporation began September
with no work in process inventory. During the month, production
that cost $64,434 (direct materials, $12,954, and conversion costs,
$51,480) was started on 31,000 units. CTD completed and
transferred to the Testing Department a total of 23,000 units. The
ending work in process inventory was 30% complete as to direct
materials and 70% complete as to conversion work. Requirements 1) Compute the equivalent units for direct materials and
conversion costs.
2) Compute the cost per equivalent unit.
3) Assign the costs to units completed and transferred out and
ending work in process inventory.
4) Record the journal entry for the costs transferred out of the
Assembly Department to the Testing Department.
5) Post all of the transactions in the “Work in Process InventoryAssembly” T-account. What is the ending balance?
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Rating:
5/
Solution: Minicase 5–Process Cost Accounting