Following is a partial process cost summary for Mitchell Manufacturing's Canning Department. Equivalent Units of Production Direct Materials Conversion
Units Completed and transferred out 56,000 56,000
Units in Ending Work in Process:
Direct Materials (15,000 * 100%) 15,000
Conversion (15,000 * 70%) 10,500
Equivalent Units of Production 71,000 66,500
Cost per Equivalent Unit
Costs of beginning work in process $40,800 $60,100
Costs incurred this period 136,900 184,300
Total costs $177,700 $244,400
Cost per equivalent unit $2.50 per EUP $3.68 per EUP

The total conversion costs transferred out of the Canning Department equals:

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.