Process costing-solution set

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Reference no: EM1347173

The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:

Materials = $20,000
Labor = 10,000
Overhead = 30,000

Ending WIP, June 30, 50,000 pounds, 100% complete with respect to material costs and 40% complete with respect to conversion costs. Units completed and transferred out totaled 370,000 pounds. The following costs were added during the month:

Materials = $211,000
Labor = 100,000
Overhead = 269,500

a. Prepare a physical flow schedule

b. Prepare a schedule of equivalent units

c. Compute the cost per equivalent unit

d. Compute the cost of goods transferred out and the value of the ending WIP inventory

Reference no: EM1347173

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