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would be used for each of the following:
a. Management’s responsibilities
b. Management assertion
process costing method. During the month of March the direct material equivalent unit cost was $10.00 and the conversion cost equivalent unit was $6.00. Alpha completed and transferred $96,000 of production to the finished goods inventory for the month of March. Use this information to determine the number of units that were transferred from the Work in Process.
account for in a process is $150,000, evenly divided between materials and conversion. Conversion consists of 75,000 equivalent units, divided one-fourth to work in process and three-fourths to completed units. Use this information to determine the conversion cost that will remain in the ending balance of the Work in Process.
production operation using the weighted average method of process costing. During October, 9,000 units were started and 7,000 were transferred to finished goods. The October 31, work in process inventory was 100% completed as to material costs and 50% completed as to conversion costs. Material costs for the month of October were $27,000 and conversion costs were $40,000. Use this information to determine: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)
1. the total costs transferred to finished goods inventory for October 2017
2. the cost that should be assigned to Alpha’ work in process inventory at the end of October 2017
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