Computation of unit costs for materials and conversion costs based on equivalent units of production given production costs at beginning, for processing and at ending work-in-process stages.
The Cutting Department of Groneman Manufacturing has the following production and cost data for July.
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Production
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1. Transferred out 9,600 units.
2. Started 3,700 units that are 60% complete as to conversion costs and 100% complete as to materials at July 31.
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Costs
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Beginning Work in Process
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$ -0-
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Materials
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47,900
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Labor
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17,400
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Manufacturing overhead
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20,300
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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.
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Materials
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Conversion costs
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Compute unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places. Use rounded amounts for future calculatons. Round all other aswers to 0 decimal places.)
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Unit cost-Materials
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$
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Unit cost-Conversion costs
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$
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