Sequal Company has the following production data for June: units transferred out 50000 and ending work in process 6000 units that are 100% complete for materials and 30% complete for conversion costs. Unit materials cost is $5 and unit conversion cost is $7.
Instructions
Determine the costs to be assigned to the units transferred out and the units in ending work in process.

Units Transferred Out

In cost accounting, it refers to the number of units moved from one production process to the next or to the finished goods inventory.

Ending Work In Process

This signifies the inventory of goods that are still in the process of being produced at the end of an accounting period.

Conversion Costs

Costs incurred during the transformation of raw materials into finished goods, typically including labor and overhead expenses.