Process Costing: Compute equivalent units produced, transferred
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A department of Jamestown Textiles produces cotton fabric. All direct materials are introduced at the start of the process, Coversion costs are incurred uniformly throughout the process.
In April, there was no beginning inventory. Units started, completed, and transferred were 650,000. Units in process on April 30 were 220,000. Each unit in ending work in process was 60% converted. Costs incurred during April were direct materials at $3,654,000 and conversion costs at $860,200.
1. Compute the total work done in equivalent units and the unit cost for April.
2. Compute the cost of units completed and transferred. Also, compute the costs in ending work in process.
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Solution Summary
The expert computes equivalent units produced and transferred process costing.
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1. Total work done in equivalent units:
Equivalent unit in production = Equivalent unit to complete beginning work in process inventory
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Units started and completed during the period
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