Water Goggles Shaping Department Month Ended January 31. Flow of Production Units to account for: Beginning work in process, January 1 Started in production during January Total physical units to account for Units accounted for: Shaping Department Equivalent Units Step 1 Flow of Production Flow of Completed and transferred out during January Ending work in process, January 31 14,000 Total physical units accounted for 62,000 Total equivalent units *14,000 units each 33% complete = 4,620 equivalent units Physical Units Ending work in process, January 31 0 Total equivalent units 62,000 62,000 48,000 Completed and transferred out during January Step 2 Equivalent Units Direct Materials 48,000 14,000 62,000 The direct materials are added at the beginning of the process, but conversion costs are incurred evenly throughout the process. Suppose the ending work in process inventory is 38% of the way through the shaping process rather than 33% of the way through. Compute the total equivalent units of direct materials and conversion costs. Water Goggles Equivalent Units Conversion Direct Costs Materials 48,000 4,620 * 52,620 Conversion Costs

Water Goggles Shaping Department Month Ended January 31. Flow of Production Units to account for: Beginning work in process, January 1 Started in production during January Total physical units to account for Units accounted for: Shaping Department Equivalent Units Step 1 Flow of Production Flow of Completed and transferred out during January Ending work in process, January 31 14,000 Total physical units accounted for 62,000 Total equivalent units 14,000 units each 33% complete = 4,620 equivalent units Physical Units Ending work in process, January 31 0 Total equivalent units 62,000 62,000 48,000 Completed and transferred out during January Step 2 Equivalent Units Direct Materials 48,000 14,000 62,000 The direct materials are added at the beginning of the process, but conversion costs are incurred evenly throughout the process. Suppose the ending work in process inventory is 38% of the way through the shaping process rather than 33% of the way through. Compute the total equivalent units of direct materials and conversion costs. Water Goggles Equivalent Units Conversion Direct Costs Materials 48,000 4,620 52,620 Conversion Costs

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...

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