7. Materials Conversion
Units completed and transferred out (all units are 100% complete with respect to materials) 190,000 190,000
Work in Process, March 31: Materials: 60,000 X 100% 60,000 Conversion: 60,000 X 30% 18,000 -------------- --------------- Equivalent Units of Production 250,000 208,000

Materials Conversion Costs in beginning work in process $ 200,000 $ 291,200 Costs added during the year 600,000 582,400 Total $800,000 873,600 Equivalent Units of Production 250,000 208,000 Cost per Equivalent Unit $3.20 $ 4.20

b. Costs transferred to finished goods 190,000 X ( $3.20 + $4.20) = $ 1,406,000

c. Ending Work in Process: Materials 60,000 X $ 3.20 = $ 192,000 Conversion: 18,000 X 4.20 = $ 75,600

8. Honeysuckle Corporation Schedule of Cost of Goods Manufactured January XXX Direct materials:
Raw materials inventory, beginning $21,000
Raw material purchases 35,000
Total raw materials available $56,000
Raw materials inventory, ending 15,000
Raw materials used in production $41,000
Indirect