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. d. The July 31 work in process was 40 percent complete as to conversion.

Required: Compute the missing amounts, and prepare the firm’s July production report.

Respuesta :

Answer:

The following data pertain to the Vesuvius Tile Company for July:

Work in process, July 1 (in units) .......................................................................................................................20,000

Units started during July ...................................................................................................................................? 45,000

Total units to account for ..................................................................................................................................65,000

Units completed and transferred out during July ................................................................................................? 50,000

Work in process, July 31 (in units) .....................................................................................................................15,000

Total equivalent units: direct material .................................................................................................................65,000

Total equivalent units: conversion ......................................................................................................................?56.000

Work in process, July 1: direct material .............................................................................................................$164,400

Work in process, July 1: conversion ...................................................................................................................?79,800

Costs incurred during July: direct material .........................................................................................................?371,850

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 ..................................................................................................................?13.20

Total cost per equivalent unit ............................................................................................................................21.45

Cost of goods completed and transfered out during July ......................................................................................?1,072,500

Cost remaining in ending work-in-process inventory: direct material ...................................................................?202,950

Cost remaining in ending work-in-process inventory: conversion .........................................................................79,200

Total cost of July 31 work in process .................................................................................................................202,950