Refer to Short Exercises S18-8 and S18-9. Use Complete Foods’s costs per equivalent unit of production for direct materials and conversion costs that you calculated in Short Exercise S18-9. Calculate the cost of the 38,000 units completed and transferred out and the 24,000 units, 20% complete, in the ending Work-in-Process Inventory.

Cost of 38,000 units transferred out is $49,400

Cost of 24,000  units, 20% complete in the ending WIP inventory is $20,640

Explanation:

Particulars                          Amount

Units completed and transferred out

Direct materials (38,000*$0.75)  $28,500

Conversion cost (38,000*$0.55) $20,900

Total                                               $49,400

Units in ending WIP Inventory

Direct materials (24,000 *$0.75) $18,000

Conversion cost (4,800*0.55)      $2,640

Total                                               $20,640

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