The Cutting Department of Hong Manufacturing has the following production and cost data for July.
Production Costs
1.Transferred out 9,000 units. Beginning work in process $ 0
2.Started 3,000 units that are 60% complete as to conversion costs and 100% complete as to materials at July 31. Materials 45,000
Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.
(a) Determine the equivalent units of production for materials and conversion costs.
- Equivalent units of materials
- Equivalent units of conversion costs
(b) Compute unit costs and prepare a cost reconciliation schedule. (Round unit costs to 2 decimal places, e.g. $2.57.)
- Unit materials cost $
- Unit conversion cost$
Costs accounted for
- Transferred out $
- Work in process, July 31
- Materials$
- Conversion costs$ $
- Total costs $