The Cutting Department of Cassel Company has the following
production and cost data for July.
Production
|
|
Costs
|
| 1. |
|
Transferred out 13,100 units. |
|
Beginning work in process |
|
$0 |
| 2. |
|
Started 5,100 units that are 60% |
|
Materials |
|
60,060 |
|
|
complete as to conversion |
|
Labor |
|
14,568 |
|
|
costs and 100% complete as |
|
Manufacturing overhead |
|
22,600 |
|
|
to materials at July 31. |
|
|
|
|
Materials are entered at the beginning of the process. Conversion
costs are incurred uniformly during the process
Determine the equivalent units of production for (1) materials
and (2) conversion costs.
|
|
Materials
|
|
Conversion Costs
|
| Total equivalent units of production |
|
|
|
|
Compute unit costs.
(Round unit costs to 2 decimal
places, e.g. 2.25.)
| Materials |
|
$
|
| Conversion costs |
|
$
|
Prepare a cost reconciliation schedule.
(Round unit
costs to 2 decimal places, e.g. 2.25 and final answers to 0 decimal
places, e.g. 1,225.)
Cost Reconciliation
|
|
|
|
Costs accounted for
|
|
|
|
Transferred out
|
|
|
$
|
Work in process, July 31
|
|
|
|
Materials
|
$
|
|
|
Conversion costs
|
|
|
|
Total
costs
|
|
|
$
|
