a. Based on the data in Exercise 18-11 determine the following:
1. Cost of beginning work in process inventory completed this period
2. Cost of units transferred to finished goods during the period
3. Cost of ending work in process inventory
4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent
b. Did the production costs change from the preceding period? Explain.
c. Assuming that the direct materials cost per unit did not change from the preceding period, did the conversion costs per equivalent unit increase, decrease, or remain the same for the current period?
SOLUTION
a.
1. $21,808; determined as follows:
Beginning work in process balance…………………………… $ 17,440
Conversion costs incurred during period
(1,040 equivalent units × $4.20)……………………………… 4,368
Cost of beginning work in process completed during period…… $ 21,808
2. Cost of beginning work in process……………………………… $ 21,808
Cost of units started and completed during period*…………… 383,600
Cost of units transferred to finished goods during period…........ $ 405,408
* ($9.50 + $4.20) × 28,000 units
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