Question Details

(Solution Download) Monk, Inc. reported the following results for the month of November. Units Materials Conversion Work


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Monk, Inc. reported the following

 

results for the month of November.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

UnitsMaterialsConversion
Work in process
   Beginning inventory?$5,500$14,400
   Added to production?55,01666,445
   Completed and transferred out???
   Ending inventory40,80060% complete40% complete
Cost per equivalent unit$0.45$0.64

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(a)

 

How many units were completed and transferred out of Work in

 

Process Inventory? (Round answer to 0 decimal places,

 

e.g. 5,275.)

 

 

 

 

 

 

 

 

 

Units completed & transferred out

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(b)

 

What cost should be assigned to the units transferred out of Work

 

in Process Inventory? (Round answer to 0 decimal

 

places, e.g. 5,275.)

 

 

 

 

 

 

 

 

 

Cost assigned to the units transferred out

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collapse question part

 

(c)

 

What cost should be assigned to the ending Work in Process

 

Inventory? (Round answer to 0 decimal places, e.g.

 

5,275.)

 

 

 

 

 

 

 

 

 

Cost assigned to the ending Work in Process Inventory

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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