Question: Cost of Units Transferred Out and Ending Work in Process
The costs per equivalent unit of direct materials and conversion in the Bottling Department of Rocky Springs Beverage Company are $1 and $1.3, respectively. The equivalent units to be assigned costs are as follows:
|
Equivalent Units |
|
Direct Materials |
Conversion |
| Inventory in process, beginning of period |
0 |
|
2,200 |
|
| Started and completed during the period |
44,000 |
|
44,000 |
|
| Transferred out of Bottling (completed) |
44,000 |
|
46,200 |
|
| Inventory in process, end of period |
6,000 |
|
3,600 |
|
| Total units to be assigned costs |
50,000 |
|
49,800 |
|
The beginning work in process inventory had a cost of $1,470. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.
Completed and transferred-out production $ _______
Inventory in process, ending $_______