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Beginning Work in Process: Units - 800 Direct Materials 100% Complete Conversion Costs 70% Complete

The document provides information for the Sandy Manufacturing Company's cost of production report for July 2012. It details beginning work in process of 800 units that were 70% complete for conversion costs. 14,000 units were started in July. Ending work in process was 1,500 units that were 30% complete for conversion costs. The cost of production report calculates equivalent units, cost per equivalent unit, cost of completed units at $104,511.26, and cost of ending work in process at $8,020.74.

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120 views4 pages

Beginning Work in Process: Units - 800 Direct Materials 100% Complete Conversion Costs 70% Complete

The document provides information for the Sandy Manufacturing Company's cost of production report for July 2012. It details beginning work in process of 800 units that were 70% complete for conversion costs. 14,000 units were started in July. Ending work in process was 1,500 units that were 30% complete for conversion costs. The cost of production report calculates equivalent units, cost per equivalent unit, cost of completed units at $104,511.26, and cost of ending work in process at $8,020.74.

Uploaded by

mohitgaba19
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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168.

Information for the Sandy Manufacturing Company for the month of July 2012 is as follows:
Beginning work in process:
Units - 800
Direct materials = 100% complete
Conversion costs = 70% complete

Units started in July = 14,000


Ending work in process inventory:
Units = 1,500
Direct materials = 100% complete
Conversion costs = 30% complete

Prepare a cost of production report for the month of July.


2 is as follows:
Cost of Inventory at process, July 1 $5,010

COST OF PRODUCTION REPORT


Physical flow schedule
Beginning work in process
add: units started in july
Costs charged to Work in Process during July: Total units
Direct materials costs = $57,400
Direct labor costs = 20,049 Completed units
Factory overhead costs = 30,073 Ending work in process
Total units

Calculation of equivalent units

Completed units

Ending work in process

Equivalent units

Calculation of cost per equivalent unit

Beginning work in process


add: cost incured during July
Total costs
divide by equivalent units
Cost per equivalent unit

Cost of completed units

Units
multiply by cost per equivalent unit

Cost of ending work in process

Units
multiply by cost per equivalent unit
700
14,000
14,700

13,200
1,500
14,700

Direct materials Direct labor Factory overhead


13,200 13,200 13,200 13,200
(13,200 * 100 % complete) (13,200 * 100 % complete) (13,200 * 100 % complete)
1,500 1,500 450 450
(1,500 * 100 % complete) (1,500 * 30 % complete) (1,500 * 30 % complete)
14,700 13,650 13,650

Direct materials Direct labor Factory overhead


$ 5,010 $ - $ -
$ 57,400 $ 20,049 $ 30,073
$ 62,410 $ 20,049 $ 30,073
14,700 13,650 13,650
$ 4.25 $ 1.47 $ 2.20

Direct materials Direct labor Factory overhead


13,200 13,200 13,200
$ 4.25 $ 1.47 $ 2.20
$ 56,041.63 $ 19,388.04 $ 29,081.58

Direct materials Direct labor Factory overhead


1,500 450 450
$ 4.25 $ 1.47 $ 2.20
$ 6,368.37 $ 660.96 $ 991.42
Total

$ 104,511.26

Total

$ 8,020.74

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