Do It Review 164 In March Kelly Company had the following un

Do It! Review 16-4

In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 28,500 units. As of March 31, 4,400 units that were 39% complete as to conversion costs and 100% complete as to materials were in ending work in process.

LINK TO TEXT

Materials

Conversion costs

LINK TO TEXT

Cost Reconciliation Schedule

Costs accounted for

   Transferred out

   Work in process, March 31

      Materials

      Conversion costs

Total costs

Open Show Work

Do It! Review 16-4 In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 28,500 units. As of March 31, 4,400 units that were 39% complete as to conversion costs and 100% complete as to materials were in ending work in process.

Solution

1. Total unit accounted for = Unit transferred out+ending work in process

= 28500+4400

Total unit accounted for = 32900 unit

2. equivalent unit of production :

Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.