Question
(a) Spiderman Corp. has two departments. The following are the data of the two departments. Quantity Department 1 Department 2 Beginning Work in Process 32,500
(a) Spiderman Corp. has two departments. The following are the data of the two departments.
Quantity Department 1 Department 2
Beginning Work in Process 32,500 22,500
Incomplete Material 20% 30%
Conversion Cost completion 75% 40%
Units started in October 120,000 not given
Units completed in October not given 112,500
Ending WIP October 31 27,500 not given
Complete Materials 60% 0%
Complete Conversion Cost 80% 60%
Costs
Beginning WIP 0 287,500
Transferred in 200,000 120,000
Materials 187,500 42,500
Current Period
Transferred In 0 not given
Materials 875,000 125,000
Conversion 500,000 300,000
Requirement:
Using FIFO Method
(1) Compute for Equivalent Units of Production of the two departments
(2) Compute for the unit cost of the two departments
(3) Compute for the transferred to out the two departments
(4) Compute for the ending Inventory Costs for two departments
Using Weighted Method
(1) Compute for the Equivalent Units of Production of the two departments
(2) Compute for the unit cost of the two departments
(3)Compute for the costs transferred to out the two departments
(4)Compute the ending inventory costs for the two departments
Please help me answer this complicated problems as we are asked to advanced study our modules yet I still can't understand it. Please explain me the processes clearly
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