Managerial Accounting: P4-27 The following data pertain to the Vesuvius Tile Company

Managerial Accounting

P4-27
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 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.
Powered by