Solution-How to find the equivalent units of production

How to find the equivalent units of production

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Reference no: EM132548670

The following information relates to the goods in process No. 2 of Mustafa Manufacturing for the month of November 2004:

Goods in process inventory (40,000 units 100% complete as to material and 75% complete as to conversion cost) 774,000

Cost of 140,000 units transferred in from process No. 2 during November 1,400,000

Manufacturing cost added in process No. 2, during November ?

Direct material 560,000

Direct labour 250,000

Factory overhead 750,000

3,734,000

On Nov. 30, 50,000 units are still in process No. 2 which are 100% complete as to material and 50% complete as to conversion cost.

REQUIRED

Question a. Compute the following:

i. Equivalent units of production.

ii. Cost per unit.

iii. Cost of units transferred out of finished goods.

Question b. General Journal entries to record:

i. Manufacturing cost added in process No. 2 during November.

ii. Transfer of 130,000 units from process No. 2 to finished goods warehouse.

Reference no: EM132548670

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How to find the equivalent units of production

Reference no: EM132548670

Reference no: EM132548670

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