Continuation of 17-21. Refer to the information in Exercise 17-19. Suppose the Assembly Division uses the FIFO
Question:
Refer to the information in Exercise 17-19.
Suppose the Assembly Division uses the FIFO method of process costing instead of the weighted-average method.
In Exercise 17-19.
Degree of completion: direct materials, 90%; conversion costs, 40%.
Degree of completion: direct materials, 60%; conversion costs, 30%.
The Assembly Division uses the weighted-average method of process costing.
REQUIRED
For the data in Exercise 17-19, use the FIFO method to summarize total costs to account for, and assign these costs to units completed and transferred out, and to units in ending work inprocess.
Transcribed Image Text:
Physical Units Direct Conversion (satellites) Materials Costs 5,426,960 1,001,440 Beginning work in process (May )* Started in May 2012 Completed during May 2012 Ending work in process (May 31) Costs added during May 2012 51 12 $35,420,000 S15,312,000
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Related Book For
Cost Accounting A Managerial Emphasis
ISBN: 978-0133392883
6th Canadian edition
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
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