Author Question: Morgan Clay Products manufactures clay molded pottery on an assembly line. Its standard costing ... (Read 157 times)

dollx · **on:** Mar 6, 2021

Morgan Clay Products manufactures clay molded pottery on an assembly line. Its standard costing system uses two cost categories, direct materials and conversion costs. Each product must pass through the Molding Department and the Finishing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production.

Data for the Assembly Department for August 2017 are:

Work in process, beginning inventory:

3000 units

Direct materials (100% complete)
Conversion costs (40% complete)

Units started during August

695 units

Work in process, ending inventory:

500 units

Direct materials (100% complete)
Conversion costs (65% complete)

Costs for August:
Standard costs for Assembly:

Direct materials

$15 per unit

Conversion costs

$35.50 per unit

Work in process, beginning inventory:

Direct materials

$12,400

Conversion costs

$9450

What is the balance in ending work-in-process inventory?
◦ $61,500
◦ $21,850
◦ $18,373
◦ $19,038

pocatato · **Reply #1 on:** Mar 6, 2021

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