The inventory at June 1 and costs charged to Work in Process -Department 60 during June are as follows:
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3,600 units, 70% completed
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$ 59,472
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Direct materials, 31,500 units
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378,000
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Direct labor
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243,440
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Factory overhead
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182,580
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Total cost to beaccounted for
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$863,492
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During June, 31,500 units were placed into production and 30,800 units were completed, including those in inventory on June1. On June 30, the inventory of work in process consisted of 4,300 units which were 50% completed. Inventories are costed by the first-in,first-out method and all materials are added at the beginning of the process.
Determine the following, presenting your computations:
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(a)
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equivalent units of production for conversion cost
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(b)
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conversion cost per equivalent unit
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(c)
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total and unit cost of finished goods started in prior period and completed in the current period
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(d)
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total and unit cost of finished goods started and completed in the current period
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(e)
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total cost of work in process inventory at June 30
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