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4 Problem II 36 Points g Company uses process costing, 40% of the materials are added at the ed quality control during the past year
4 Problem II 36 Points g Company uses process costing, 40% of the materials are added at the ed quality control during the past year and has reduced their spoilage to zero units. eginning of the process with the remaining materials added at the 75% completion point of the process. Atlantic has stre The conversion ss process occurs evenly throughout the manufacturing period. The beginning process in the month of May is 180,000 units and the total costs are $1,680,000. This is based on $800,000 of material's cost, and 880,000 for conversion costs. The beginning w 50% complete. During May, 720,0 conversion costs. The amount of ending work in process in May is 100,000 units which was 80% 00 units were started with a cost of $7,452,000 for materials and $ 10,270,000 for complete. Use the FIFO method to calculate: (See following page for Process Costing workspace were you will show your calculations using the five step process, but insert your answers based on the data from the Workspace to the specific questions below) Required: (a) The total current costs to complete the beginning inventory? (b) The total cost of the units finished during the month of May? (c) The total cost of ending work-in-process inventory
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