Anthony Co. has provided the following information

Using the FIFO method of process costing, complete each of the following:

a. How many units were completed and transferred to Finished Goods?

b. Calculate equivalent units.

c. Calculate cost per equivalent unit.

d. What is the dollar amount transferred to Finished Goods?

e. Calculate the cost of the ending Work in Process. 

Transcribed Image Text:

Work in Process: Feb 1 (100% complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) 25,000 units $35,000 $43,000 80,000 units $120,000 $234,000 15,000 units Work in Process: Feb 1 (100% complete for materials, 60% complete for conversion) Materials Conversion Units started February costs Materials Conversion Work in Process: Feb 28 (100% complete for materials, 20% complete for conversion) 25,000 units $35,000 $43,000 80,000 units $120,000 $234,000 15,000 units

Answer rating: 100% (QA)

Work in Process Feb 1 Units25000 100 complete for materials60 complete for conversion Materials35000 Conversion Costs43000 Units Started 80000 units February Costs Materials120000 Conversion Costs2340... View the full answer