( b) Compute the total manufacturing costs assigned to jobs in January in each department.
( c) Compute the under- or over applied overhead for each department at January 31.
E3-3
the ledger of American Company has the following work in process account.
Production records show that there were 400 units in the beginning inventory, 30 % complete, 1,600 units started, and 1,700 units transferred out. The beginning work in process had materials cost of $ 2,040 and conversion costs of $ 1,550. The units in ending inventory were 40 % complete. Materials are entered at the beginning of the painting process.
Instructions( a) How many units are in process at May 31?( b) What is the unit materials cost for May?( c) What is the unit conversion cost for May?( d) What is the total cost of units transferred out in May?( e) What is the cost of the May 31 inventory? E3-7
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation.
Production: 7,000 units finished and transferred out; 3,000 units started that arc 100 % complete as to materials and 20 % complete as to conversion costs.