Answer:
Cost assigned
$
Transferred out 610,950
Work in Progress 57,792
Explanation:
Cost assigned = cost per equivalent units × Number of equivalent units
Equivalent units = Degree of completion × units
The cost per unit for each expenditure type has been given so we need to determine the equivalent unit
The equivalent units for work in progress and units transferred would be worked out using the table below:
Equivalent units
Material Conversion cost
Transferred out 100%× 40,730= 40,730 100%×40,730= 40,730
Work in Progress 100%× 6020 =6,020 40%× 6020 = 2,408
Cost assigned:
Material Conversion cost Total
Transferred out (40,730 ×$6) + ( 40,730 ×$9)= 610,950
Work in progress (6,020× $6) + (2,408 ×$9) = 57,792
Cost assigned
$
Transferred out 610,950
Work in Progress 57,792
