Practice Calculations Problem 14-A2. The Essay

So for the 70,000 units completed in July: (70,000)(15 + 10.65) = $1,795,500

2. The ending works in progress is 20,000. The total cost should be (20,000)(25.65) = 513,000

Note: These figures represent the total cost of the goods, not the total cost in July of the goods. The question is worded a little bit funny so I wasn't sure which one it was intended to be.

Problem 14-21.Problem 14-21

1

2

3

4

DM Inv, 2010

8

8

5

2

Purchased

5

9

10

8

Used

7

11

7

3

DM Inv, 2011

6

6

8

7

Problem 14-22-1.

Goods Completed

72,000

WIP Inventory

72,000

Goods Completed

56,000

WIP Inventory

56,000

2. The WIP inventory at the end of the month would reflect the following:

Beginning.....