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    Calculating the overhead and determining the cost of products

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    3-33. The following information relates to the Richard Renick Company for 2005:
    Units Percent Complete
    Units completed in 2005 390,000
    Work-in-process at December 31 72,000 20%
    Cost information:
    Cost of the beginning work-in-process $14,280
    Current year's production cost $248,580

    a. Calculate the number of equivalent units of production.
    b. Calculate the cost per equivalent unit of production.
    c. Calculate the cost of the ending work-in-process inventory.
    d. Calculate the cost of the completed units.

    3-13, pg M-85
    Willig-Davis Cleaning Equipment began two jobs during March 2004. There was no beginning Inventory. The following information is available:

    Job 10 Job 15
    Direct material $14,350 $23,530
    Direct labor $7,231 $15,125
    Machine hours 124 236

    The company estimated manufacturing overhead for 2004 is $307,200, and the company estimates that 4,800 machine hours will be used during the year. Willig-Davis applies overhead to production based on machine hours.

    a. Calculate the cost of Job 10.
    b. Calculate the cost of Job 15.

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    Solution Summary

    The solution calculates the overhead and determines the cost of products.