Homework Answers
Answer: 3,240 units
.
| Working note - Units started and completed during the year | ||
| Beginning work-in-process | 200 | units |
| Units started | 3,200 | units |
| Total units [200 + 3,200] | 3,400 | units |
| Deduct: Ending work-in-process | 400 | units |
| Units completed during the year | 3,000 | units |
| FIFO method: Out of 3,000 units above, 200 units are from beginning work-in-process inventory, remaining 2,800 units (3,000 units - 200 units) are from units started during the year | ||
| Therefore, units started and completed during the year | 2,800 | units |
Under FIFO method, the percentage of the physical units that are converted during the current year shall be taken into consideration to calculate equivalent units of production.
Equivalent units of production = Total output during the current year
.
| Equivalent units of production under FIFO method | |
| Beginning work-in-process inventory [200 units x (100% - 40%)] | 120 |
| Units started and completed during the year [Refer working note above] [2,800 units x 100%] | 2,800 |
| Ending work-in-process inventory [400 units x 80%] | 320 |
| Equivalent units of production [120 + 2,800 + 320] | 3,240 |
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i just need the "% materials" and "EUP - materials" for Units to complete beginning goods...
i
just need the "% materials" and "EUP - materials" for Units to
complete beginning goods in process. and also the "cost per EUP"
for direct materials in "cost to complete beginning goods in
process". ive tried $11, but that was wrong
We were unable to transcribe this imageWe were unable to transcribe this imagePrepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) $ $ Costs Charged to Production Costs of beginning...
7) Vallin Manufacturing Corporation's beginning work in process inventory cond on 400 units, 100 complete with resnect materials cost and complete respect to conversion costs. The total cost in the beginning inventory was 554.000 During the month. 58.000 units were transferred out. The equivalent unit cost was computed to be 54.30 for materials and 54,80 for conversion costs under the weighted average method. Given this information, the total cost of the units completed and transferred out was: A) S527,800 B)...
Solomon Company had 100 units of product in work in process inventory at the beginning of the period. It started 1,300 units during the period and transferred 1,200 units to finished goods inventory. The ending work in process inventory was estimated to be 7O percent complete. Cost data for the period follow Product Costs Beginning balance Added during periocd $31,640 56,800 $88,440 Total Required a. Calculate the number of equivalent units of production. b. Calculate the product cost per equivalent...
i
just need the "% materials" and "EUP - materials" for Units to
complete beginning goods in process. and also the "cost per EUP"
for direct materials in "cost to complete beginning goods in
process". ive tried $11, but that was wrong
We were unable to transcribe this imageWe were unable to transcribe this imagePrepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) $ $ Costs Charged to Production Costs of beginning...
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