The Cutting Department of Cassel Company

    The Cutting Department of Cassel Company has the following production and cost data for July.ProductionCosts1.Transferred out 12,000 units.Beginning work in process$02.Started 3,000 units that are 60%Materials45,000complete as to conversionLabor16,200costs and 100% complete asManufacturing overhead18,300to materials at July 31.Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process.(a) Determine the equivalent units of production for (1) materials and (2) conversion costs.MaterialsConversion CostsTotal equivalent units of production.wiley.com/edugen/art2/common/pixel.gif”>.wiley.com/edugen/art2/common/pixel.gif”>(b)Compute unit costs.(Round unit costs to 2 decimal places, e.g. 2.25.)Materials$.wiley.com/edugen/art2/common/pixel.gif”>Conversion costs$.wiley.com/edugen/art2/common/pixel.gif”>Prepare a cost reconciliation schedule.Cost ReconciliationCosts accounted forTransferred out$.wiley.com/edugen/art2/common/pixel.gif”>Work in process, July 31Materials$.wiley.com/edugen/art2/common/pixel.gif”>Conversion costs.wiley.com/edugen/art2/common/pixel.gif”>.wiley.com/edugen/art2/common/pixel.gif”>Total costs$.wiley.com/edugen/art2/common/pixel.gif”>

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