Question
A department uses the FIFO method of process costing. All direct materials are added when units are 50% complete with respect to conversion costs. This
A department uses the FIFO method of process costing. All direct materials are added when units are 50% complete with respect to conversion costs. This department has the following data for this month.
181 units in beginning WIP (61% complete with respect to conversion costs).
794 units started
176 units in ending WIP (70% complete with respect to conversion costs).
$459 Beginning WIP direct material costs
$282 Beginning WIP conversion costs
$5,329 Current period direct material costs
$5,158 Current period conversion costs
What is the department's total cost for units completed and transferred out for this month?
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To calculate the departments total cost for units completed and transferred out using the FIFO metho...
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Cost Accounting A Managerial Emphasis
Authors: Horngren, Srikant Datar, George Foster, Madhav Rajan, Christ
6th Canadian edition
978-0132893534, 9780133389401, 132893533, 133389405, 978-0133392883
