ACCOUNTING HOMEWORK HELP – 2024
(((3 SHORT QUESTIONS WITH 1 MCQ)))(( no big deal))
((((( 1st READ IT PROPERLY AND THEN START THE WORK)))))
On August 1, Jones Corporation’s packaging department had Work in Process inventory of 8,000 units that were 75% complete with respect to materials and 30% complete with respect to conversion costs. The cost of these units was $99,525 ($62,000 transferred-in from previous departments, $28,775 in materials, and $8,750 in labor and overhead). During August, 125,000 units were transferred into the department. These units had accumulated costs in previous departments of $1,418,560. The packaging department incurred costs of $799,225 for materials and $498,010 for conversion costs in August and transferred 131,000 units out of the department. The 2,000 units remaining in ending inventory are 50% complete with respect to materials and 20% complete with respect to conversion costs. Jones Corporation uses the average cost method to cost its inventories.
Required
a. Calculate the cost per equivalent unit for transferred-in costs, materials, and conversion costs. Round your answers to two decimal places.
| Transferred-in costs | $ |
| Materials | $ |
| Conversion costs | $ |
b. Calculate the cost of the units transferred out of the department.
$
c. Calculate the cost of the ending inventory.
$
THIS IS A MCQ:
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Department G had 3,600 units, 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:
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