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4 Please note this is using the FIFO method Glencove Co. makes one model of radar gun used by law enforcement officers. All direct materials
4 Please note this is using the FIFO method
Glencove Co. makes one model of radar gun used by law enforcement officers. All direct materials are added at the beginning of the manufacturing process. Information for the month of September follows: Units ? Costs $1,340, 500 629,800 $1,970,300 Beginning work in process (40% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (75% complete) Current period costs Direct materials Conversion cost Total current period costs 36,800 35,200 22,250 $2,406, 400 1,270,500 $3,676,900 Required: 1. Using FIFO method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req1c Req 1D Using FIFO method of process costing, reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Completed Units Started Ending Units Total Units o Total Units Req1A Req 1B > Complete this question by entering your answers in the tabs below. Reg 1A Req 1B Req 10 Req 1D Using FIFO method of process costing, calculate the number of equivalent units. (Round your final answer to the nearest whole unit.) Equivalent Units Physical Units Direct Materials Conversion Beginning Inventory Started and Completed Ending Inventory Total 0 0 0 Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, calculate the cost per equivalent unit. (Use Equivalent Units rounded to the nearest whole unit and round your answers to 5 decimal places.) Direct Materials Cost per Equivalent Unit Conversion Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Req 1D Using FIFO method of process costing, reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and round your final answers to the nearest whole dollar amount.) Current Period Costs Prior Period Costs Direct Materials Conversion Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for $ 0 0 S S 0 $ 0Step by Step Solution
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