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11 January, 15:36

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period; 3,000 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period:

Work in process, beginning of period

$40,000

Costs added during period:

Direct materials (10,400 units at $8)

83,200

Direct labor

63,000

Factory overhead

25,000

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Answers (1)
  1. 11 January, 17:31
    0
    Total value of beginning WIP: 62,205.61

    Solution:

    First-in, first-out process of paying inventories'

    They will apply the additional expense to the conclusion of the existing cost estimate at the initiation of WIP.

    Equivalent units conversion cost:

    complete units: 11,000

    work on beginning WIP inventory: 3,600 x 25% = (900)

    work on ending WIP invenotry: 3,000 x 20% = 600

    Equivalent Units for Conversion Cost 10,700

    Conversion cost per unit: 63,000 labor + 25,000 overhead

    Total : 88,000

    Cost per equivalent units: 88,000 / 10,700 = 8,22429 = 8.2243

    Beginning Inventory:

    Beginning Cost: 40,000

    Conversion Cost added:

    3,600 x 75% x 8.2243 = 22.205,6075

    Total value of beginning WIP: 62,205.61
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