Your company is Salmon Company
Given the following information answer the questions below:
| Beginning Inventory: | 974 Units |
| Cost of Materials in Beginning Inventory | $ 5,108 |
| Cost of Conversion in Beginning Inventory | $ 3,134 |
| Units Started into Production | 6118 Units |
| Cost of Materials added this period | $ 29,289 |
| Cost of Conversion added this period | $ 18,414 |
| Units transferred out to next process Ending Inventory: | 5319 Units |
| Materials Complete | 100% |
| Conversion Complete | 68.42% |
Questions:
A)
How many units are in ending inventory?
B)
What is the equivalent units of material?
C)
What is the equivalent units of conversion?
D)
What is the material cost per unit?
E)
What is the conversion cost per unit?
F)
Journal the transfer of completed products to the next process (Use WIP This Process & WIP Next Process)
G)
What is the value of ending inventory?
