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Actg 360, Chapter 8-Problems & Case

In: Business and Management

Submitted By qiqi19890427
Words 265
Pages 2
8.40 a.

Flow of Units Units to be accounted for Beginning WIP Units Transferred In Total units to account for Units accounted for Completed and transferred out Ending WIP Total units accounted for Equivalent units Costs to be accounted for

Degree of Completion Equivalent Units Physical units Trans. In Mat'ls Conv. Trans. In Materials 100%

100% 100%

60%

100% 80%

75%

100% 45%

1,000

4,300 2,700 7,000 7,000 4,300 2,160 6,460 6,460 600

Conversion 750

1,000 6,000 7,000 4,300 2,700 7,000

4,300 1,215 5,515 5,515

Trans. In $ 7,100,000 43,200,000 $ 50,300,000 $ 7,185.71 $ 30,898,571 19,401,429 $ 50,300,000

Costs Materials $600,000 2,500,000 $ 3,100,000 $ 479.88 $ 2,063,467 1,036,533 $ 3,100,000

Conversion $420,000 6,475,000 $ 6,895,000 $ 1,250.23 $ 5,375,975 1,519,025 $ 6,895,000

$ 8,120,000 Costs in beginning WIP 52,175,000 Current period costs Total Costs to be accounted for $ 60,295,000 Cost per equivalent unit Costs accounted for Completed and Transferred out $ 38,338,014 21,956,986 Ending WIP $ 60,295,000 Total costs accounted for * 4,300 = 7,000 -­‐ 2,700

b. BB TI EB WIP Inventory 8120000 52175000 38338014 TO 21956986

* Transfers-­‐in cost represents the total of shredding process costs, direct material costs, and conversion costs; $52,175,000 = $43,200,000 + $2,500,000 + $6,475,000

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