Overton Company has gathered the following information.
|
Units in beginning work in process |
20,000 |
|
Units started into production |
164,000 |
|
Units in ending work in process |
24,000 |
|
Percent complete in ending work in process: |
|
|
Conversion costs |
60% |
|
Materials |
100% |
|
Costs incurred: |
|
|
Direct materials |
$101,200 |
|
Direct labor |
$164,800 |
|
Overhead |
$184,000 |
Instructions
(a)Compute equivalent units of production for materials and for conversion costs.
(b)Determine the unit costs of production.
(c)Show the assignment of costs to units transferred out and in process.