Accounting & Bookkeeping & Small Business Forum

[EngineerGuY]

Units in beginning inventory 0
Units started during the month 16,000
units to account for 16,000

Units in Ending Inventory 6,000

(ending inventory is 50% complete for conversion cost, 100% for material)

I need answers for conversion only for:
Complete & Transfer
Ending Inventory
Total Equivalent Units
Costs added for the month
cost per equiv unit
total cost of units completed and transfered
total cost of units in ending inventory

[dp1903]

_________________________________Physical____Direct___Conversion
__________________________________Units_____Materials____Costs

Completed and transferred out for month 10,000___10,000_____10,000
Work in process, ending_______________6,000
(6,000 X 100%, 6,000 X 50%)___________________6,000______3,000
Accounted for______________________16,000
Work done in current month____________________16,000_____13,000


10,000 unites are complete and transferred out for the month.
Ending Inventory has 6,000 equivalent units complete for Direct Materials and 3,000 equivalent units complete for Conversion Costs.

Any computations in regards to Costs added for the month, cost per equivalent unit, total costs assigned to completed and transferred out units, and costs assigned to work in process inventory at end of month would require more info. i.e. cost data. (Apologies for the lines. Don't know how to tab on this forum)

[RobJ]

Why does it seem like some of these postings are problems straight out of a book?

Rob

[dp1903]

I would guess that's what this is, except a lot of info missing on this one. I don't know much about process cost, just read a little in the cost book to figure out what I posted. Just call me processcostguy! :P

[Accountant101010]

does anyone know where i can find some good accounting articles?

david