The cost per equivalent unit of direct materials and convers

The cost per equivalent unit of direct materials and conversion in the Bottling Department of Beverages on Jolt Company Is $0.40 and $0.10, respectively. T equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Conversion Inventory in process, beginning of period Started and completed during the period 55,490 55,490 3,630 59,120 2,610 55,490 58,100 2,000 60,100 Transferred out of Bottling (completed) Inventory in process, end of period Total units to be assigned costs The beginning work in process inventory had a cost of $3,370. Determine the cost of completed and transferred out production and the ending work in proc inventory. Round answers to nearest whole dollar. Completed and transferred out production Inventory in process, ending

Solution

Cost of units completed and transferred out = (55490*.40+58100*.10)+3370 = $31376

Cost of inventory in process, ending = (3630*.40+2000*.10) = $1652