Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 Question 4 - Assignment #3 Week 8&9 (Chapter.. o OntarioLearn 121. Assignment #3 Week 889 (Chapter 6) - W23-Co. Assignment #3 Week 8&9 (Chapter
1 Question 4 - Assignment #3 Week 8&9 (Chapter.. o OntarioLearn 121. Assignment #3 Week 889 (Chapter 6) - W23-Co. Assignment #3 Week 8&9 (Chapter 6) i Saved Help Save & Exit Submit 4 Check my work Easy Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month. 12 points Work in process, beginning: Units in process 1, 550 Percent complete with respect to materials 01:29:33 90% Percent complete with respect to conversion 10% Costs in the beginning inventory: Materials cost $ 1,934 Conversion cost 1, 526 Units started into production during the month 24, 900 Units completed and transferred out . 25, 000 Costs added to production during the month: Materials cost $ 71, 971 Conversion cost $543, 598 Work in process, ending: Units in process 1, 450 Percent complete with respect to materials 70% Percent complete with respect to conversion 70% Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Complete this question by entering your answers in the tabs below. Req A and B Req C and D a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.) Grav Hill Canta 10 1,638 MAR tv 21 MacBook Air01:29:17 Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. Complete this question by entering your answers in the tabs below. Req A and B ER Req C and D a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. (Round your answers to 2 decimal places.) Materials Conversion a. Equivalent units of production b . Cost per equivalent unit Mc Graw 1,638 1 MAR Canva 21 atv 4 W MacBook Airu. uctcllmnc use um. per equrvaiem unit ror materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. 1 7 cont ' late thljieuestlon by entering your answers in\" the tabs below. . l'Req A and a; Req C and D c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month. (Round "Cost per equivalent unit" to 2 decimal places. Round your nal answer to the nfarest whole number.) Cost of ending work Cost of units transferred out
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started