I am struggling to figure out step 1 of a 4 step process. I need to create a production cost report but I don’t know how to get to the first answer. 1. The equivalent units of production for Materials & Conversion Costs are?2. Unit Costs for Materials & Conversion Costs are? 3. Determine the costs assigned to the units transferred out are? 4. Determine the costs assigned to the units in ending work in process are ?Exercise 16-8
The Blending Department of Luongo Company has the following cost and production data for the month of April.
Work in process, April 1
Direct materials: 100% complete
Conversion costs: 20% complete
Cost of work in process, April 1
Costs incurred during production in April
Costs incurred in April
Units transferred out totaled 17,000. Ending work in process was 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.
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