Managerial Accounting: P4-7 Pet Products manufactures dry dog food
Managerial Accounting P4-7 Elements of the Departmental Production Report Pet Products manufactures dry dog food. The following information pertains to the months of February: Beginning work in process 5,000 pounds Started into production 6,000 pounds Completed 4,000 Ending work in process 7,000 (60% completed as to materials, 40% complete as to conversion costs)
Costs in beginning work in process: Direct material 10,000 Conversion costs 2,460
Costs incurred during February: Direct materials 5,990 Conversion costs 4,000 Pet products uses costing system to value its inventories.
A. Compute the cost per equivalent unit for materials. B. Compute the cost per equivalent unit for conversion. C. Compute the value of ending WIP. D. Compute the value of the units completed.