Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 9,000 units, 50% completed 22,050 To Finished Goods, 207,000 units ? Direct materials, 212,000 units @ $1.6 339,200 Direct labor 276,000 Factory overhead 107,400 Bal. ? units, 75% completed ? Cost per equivalent units of $1.60 for Direct Materials and $1.80 for Conversion Costs. Based on the above data, determine the different costs listed below. .

(1) Cost of beginning work in process inventory completed this period. $
(2) Cost of units transferred to finished goods during the period.

Cost of completed WIP: 30,240

Total cost of tranferreed-out: 729,990

Explanation:

We assume it works with weighted-average process costing

Beginning 9,000 50% = 4,500   $22,050

Finished goods 207,000 units

Direct Materials 212,000 units at $1.6

Direct labor       $276,000

Overhead          $ 107,400    

Total Overhead $383,400

started   212,000 units

finished 207,000 units

ending       5,000 units at 75%

EU Conversion Cost 207,000 + 5,000 x 75% =  210,750

Cost per equivalent unit: 383,400 / 210,750 = 1,819217

Cost of beginning WIP comepleted

22,050 beginning + 1.82 x 4,500 =  30,240

Cost of the units transferred to finished goods:

    22,050 beginning WIP balance

+ 207,000 x $1.6 materials

+ 207,000 x $1.82 conversion cost  

Total: 729,990

answer///supply is elastic, and demand is inelastic;