In March, Kelly Company had the following unit production costs: materials $12 and conversion costs $8. On March 1, it had zero work in process. During March, Kelly transferred out 23,980 units. As of March 31, 4,600 units that were 30% complete as to conversion costs and 100% complete as to materials were in ending work in process.
(a) Compute the total units to be accounted for.
Total units
(b) Compute the equivalent units of production.
Materials
Conversion costs
The equivalent units of production
(c) Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.
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