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Conversion Units completed & transferred out Work in process inventory, May 31 1 Equivalent units of production Physical Units 430,000 34,000 464,000 Equivalent Units Materials 430,000 23,800 453,800 100% 70% 100% 30% 430,000 10,200 440,200 Material Conversion Costs per equivalent unit of production Work in process inventory, May 1 Cost added during May Total costs Divided by Equivalents units of production 2 Costs per equivalent unit of production $98,800 $513,830 $612,630 453,800 $1.35 $44,000 $242,130 $286,130 440,200 S0.65 4 Costs of units transfrred out: Direct materials Conversion Total costs transferred out 3 Costs of ending work in process Direct materials Conversion Work in process, Ending Total costs accounted for EUP Cots per EUP Total cost 430,000 $1.35 $580,500 430,000 $0.65 $279,500 S860,000 EUP Cots per EUP Total cost 23,800 $1.35 $32,130 10,200 $0.65 S6,630 $38,760 $898.760 5 5 Cost Reconciliation Cost to be accounted for: Work in process inventory, May 1 Cost added during period Total cost to be accounted for Costs accounted for as follows: Completed and transferred out Work in process inventory, May 31 Total cost accounted for $142,800 $755,960 $898,760 $860,000 $38,760 $898,760
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