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Question
The inventory on June 1 and costs charged to Work in Process—Department A during June are as follows:
| 3,800 units, 60% completed | $ 60,400 |
| Direct materials, 32,000 units | 378,000 |
| Direct labor | 274,000 |
| Factory overhead | 168,000 |
| Total | $880,400 |
During June, 32,000 units were placed into production and 31,200 units were completed, including those in inventory on June 1. On June 30, the inventory of work in process consisted of 4,600 units which were 85% completed. All materials are added at the beginning of the process, and the first-in, first-out cost flow method is used.
Determine the following (round unit cost data to four decimal places to minimize rounding differences):
a. Conversion equivalent units of production
b. Conversion cost per equivalent unit
c. Total and unit cost of finished goods started in prior period and completed in the current period
d. Total and unit cost of finished goods started and completed in the current period
e. Total cost of work in process inventory, June 30
Answer
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