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4-27
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 transferred 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.
