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    LW8's Avatar
    LW8 Posts: 3, Reputation: 1
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    #1

    Sep 13, 2012, 10:04 PM
    Help on tranferred in cost
    On March 1, Upton Company's packaging department had Work in Process inventory of 8,820 units, which had been transferred in from the finishing department. These units had accumulated costs of $315,000 in previous departments and $16,000 for CC in the packaging department. During March, 30,000 units were transferred into the department. These units had accumulated costs of $770,000 in the previous departments. The packaging department incurred $54,000 in CC during the month. 700 units remained in ending inventory on March 31st. These units were 80% complete with respect to CC.Calculate the cost per EU for transferred-in costs and for CC for the packaging department using the average cost method. a. Transferred in costs$ per EUb. CC$1.91 per EU
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Sep 13, 2012, 10:13 PM
    What is it you would like to know?
    LW8's Avatar
    LW8 Posts: 3, Reputation: 1
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    #3

    Sep 15, 2012, 03:23 PM
    How to solve this?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    Sep 15, 2012, 05:22 PM
    Let's start with unraveling the abbreviations what does CC mean? What does EUb mean?
    Accounting doesn't work the same way as SMS we are not mind readers

    In order to sovle this you develop a table of costs and quantities and work with equivalent units of finished product, etc. You have been given opening inventory, input costs and closing inventory
    LW8's Avatar
    LW8 Posts: 3, Reputation: 1
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    #5

    Sep 15, 2012, 07:06 PM
    It's okay, I finally solved in after repeated trial and error, but EU equivalent units, CC is conversion cost.

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