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The Roberto Company had computed the flow of units for Department A for the month of May as follows:
Work in process, May 1:
10,000
Started into production during May
39,000
Units to be accounted for
49,000
Beginning
work in process
Added during the current month
Materials
$20,800
$ 97,500
Labor
5,200
34,920
Factory overhead
4,800
32,980
Total
$30,800
$165,400
Materials are added at the beginning of the process. There were 8,000 units of work in process at May 31. The work in process at May 1 was 70 percent complete as to conversion costs and the work in process at May 31 was 60 percent complete as to conversion costs. What was the cost of the goods transferred out and in ending work in process using the FIFO method? (Cost of Production Summary)
A. Cost of goods finished and transferred out during month?
B. Total cost of work in process end of month?
QUESTION 2
Information for Tyson Company in May for Department One, the first stage of the production cycle, is as follows:
Materials
Conversion
Costs
Beginning work in process
$ 7,500
$ 6,000
Costs added during May
28,500
16,050
Total costs
$36,000
$22,050
Goods completed
9,000 units
Ending work in process
1,000 units
Material costs are added at the beginning of the process. The ending work in process is 80 percent complete as to conversion costs. How would the total costs accounted for be distributed using the average cost method? (Cost of Production Summary)
A. Cost of Units Completed?
B. Ending Work in Process – Materials?
C. Ending Work in Process – Conversion Costs?
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