K-Briggs Company uses the FIFO method to account for the costs of production. For Crushing, the first processing department, the following equivalent units schedule has been prepared:

The cost per equivalent unit for the period was as follows

Direct materials€¦€¦€¦..$2.00

Conversion costs€¦€¦€¦..6.00

Total€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦.$8.00

The cost of beginning work in process was direct materials, $40,000; conversion costs, $30,000.

Required:

1. Determine the cost of ending work in process and the cost of goods transferred out.

2. Prepare a physical flow schedule.

Transcribed Image Text:

Direct Materials Conversion Costs 28,000 28,000 Units started and completed Units, beginning work in process: 10,000 x 0% 10,000 x 40% Units, ending work in process: 6,000 x 100% 6,000 x 75% Equivalent units of output 4,000 6,000 4,500 38,500 34,000