Question
Need help with reuqirement two part a and part b opartments ancora olmancung cost of $1,545,000...
need help with reuqirement two part a and part b
opartments ancora olmancung cost of $1,545,000 yand wang taon and engin January 2017, the company incurred 550.boo one Read the rements production and a 5.000 werely completed the end of the Requirement l What is the e there was no beginning inventory of any kind on January 1, 2017. During January 5.000 cameras were pla cost of an d came in any found you were the near Cent) cost per un 170.00 Direct Conversion cont per una Requirements that during February 5 000 cameras are placed in production. Further assume the same total assembly costs for January are also incurred in February, but only 3.000 cameras are fully com ed the end of the more All direct materials have been added to the remaining 2.000 cameras. However, on average, these remaining 2.000 cameras are only 60 complete as to conversion costs. (a) What are the equivalent unes for direct materials and conversion costs and the respective costs per equivalent unit for February? (b) What is the unit cost of an assembled camera in February 2017 (a) What are the equivalent unts for direct materials and conversion costs and the respective costs per equivalent unit for February? First calculate the equivalent units
Asembly be parnup Requirement 2. Assume that during February 5,000 cameras are placed into production. Further assume the same total assembly costs for January areas incurred in Feb added to the remaining 2,000 cameras. However, on average, these remaining 2,000 cameras are only 60% complete as to conversion CSS () What are the equivalent (b) What is the unit cost of an assembled camera in February 2017? (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? First calculate the equivalent units Equivalent Units Direct Materials Conversion Costs Completed and transferred out in current period Work in process, ending Work done in current period
1. Assume there was no beginning inventory of any kind on January 1, 2017 During January 5,000 cameras were placed into production and all 5,000 were fully completed at the end of the month. What is the unit cost of an assembled camera in January? Assume that during February 5,000 cameras are placed into production. Further assume the same total assembly costs for January are also incurred in February, but only 3,000 cameras are fully completed at the end of the month. All direct materials have been added to the remaining 2.000 cameras. However, on average, these remaining 2,000 cameras are only 6096 complete as to conversion costs. (a) What are the equivalent units for direct materials and conversion costs and their respective costs per equivalent unit for February? (b) What is the unit cost of an assembled camera in February 2017? 3. Explain the difference in your answers to requirements 1 and 2
Answers
1) Production report for the january month: Phy units D. Material Conversion cost Total Op WIP 0 0 0 Started and Completed 5000 5000 5000 Transferred out 5000 Cl WIP 0 0 0 Equivalent units 5000 5000 Cost of Eq unit 170 159 329 Cost of Transferred out 850000 795000 1645000 2) Production report for the february month: Phy units D. Material Conversion cost Total Op WIP 0 0 0 Started and Completed 3000 3000 3000 Transferred out 3000 Cl WIP 2000 2000 1200 (60%) Equivalent units 5000 4200 Total Cost incurred 850000 795000 1645000 Cost per Eq. unit 170 189.29 359.29 3) The difference of the two answers are that during february there are work-in-process at the end of month. Same amount of conversion cost is incurred but the equivalent completed units are less for conversion cost unlike january, so the conversion cost per unit is higher. So, the unit cost of assembled camera is higher at $359.29 in february against $329 in january.
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