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

profilelimra
 (Not rated)
 (Not rated)
Chat

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.

    • 13 years ago
    vesuvius tile tutorial with workings in excel
    NOT RATED

    Purchase the answer to view it

    blurred-text
    • attachment
      vesuvius_tutorial.xlsx