Question 1: Blue-Red Company started 7,400 units during the month of March. There were 1,880 units in the beginning work in process inventory and 2,880 units in the ending work in process inventory. Calculate units completed and transferred out during March.
Question 2:
Montreal Manufacturing Inc. has the following cost and production data for the month of April.
Beginning WIP
|
20,000
|
units |
Started in production
|
104,000 |
Completed production
|
94,300 |
Ending WIP
|
29,700 |
The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of process.
Costs pertaining to the month of April are as follows:
Beginning inventory costs are:
| Materials |
$64,100 |
| Direct labour |
20,500 |
| Factory overhead |
14,200 |
| Costs incurred during April include: |
| Materials |
$572,000 |
| Direct labour |
190,200 |
| Factory overhead |
389,007 |
Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method.
Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.)
Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.)