2023 The following data pertain to the Vesuvius Tile Company for July Work | Assignments Online
2023 The following data pertain to the Vesuvius Tile Company for July Work | Assignments Online
Assignments Online 2023 Business Finance
The following data pertain to the Vesuvius Tile Company for July
| Work in process, July 1 (in units) | 20,000 |
| Units started during July | |
| Total units to account for | 65,000 |
| Units completed and transferred out during July | ? |
| Work in process, July 31 (in units) | 15,000 |
| Total equivalent units: direct material | 65,000 |
| Total equivalent units: conversion | ? |
| Work in process, July 1: direct material | $164,400 |
| Work in process, July 1: conversion | ? |
| Costs incurred during July: direct material | ? |
| Costs incurred during July: conversion | $659,400 |
| Work in process, July 1: total cost | $244,200 |
| Total costs incurred during July | $1,031,250 |
| Total costs to account for | $1,275,450 |
| Cost per equivalent unit: direct material | $8.25 |
| Cost per equivalent unit: conversion | ? |
| Total cost per equivalent unit | $21.45 |
| Cost of goods completed and transfered out during July | |
| Cost remaining in ending work-in-process inventory: direct material | |
| Cost remaining in ending work-in-process inventory: conversion | $79,200 |
| Total cost of July 31 work in process | $202,950 |
| Additional Information: | |
| a. Direct material is added at the beginning of the production process, and conversion activity occurs |
|
| uniformly throughout the process. | |
| b. The company uses weighted-average process costing. | |
| c. The July 1 work in process was 30 percent complete as to conversion. | 30% |
| d. The July 31 work in process was 40 percent complete as to conversion. | 40% |
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