Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

action video, video reproduction company,adds direct materials at the start of the production process and adds conversion costs uniformly throughtout this process. given the following

action video, video reproduction company,adds direct materials at the start of the production process and adds conversion costs uniformly throughtout this process. given the following information from action video's records for October,compute the current period's equivalent costs:

units, beginning inventory $30,000

units, started during period $50,000

units, in ending inventory $15,000

percentage of completion of beginning inventory: 100% direct materials, 60% for conversion costs. percentage of completion of ending inventory : 100% direct materials, 70% for conversion costs

costs equivalent cost

beginning inventory ?

units started ?

total units accounted for ? Direct Materials Conversion costs

beginning inventory ? ?? % ?? %

units started & completed ? ?? % ?? %

ending inventory ? ?? % ?? %

units accounted for ? ?? ??

during the month the company direct materials cost for the current period wa $25,000 and $6,000 for direct labor and $11,000 for conversion cost. Using the equivalent units calculated above, determine the cost per equivalent set using the FIFO methods, the ending inventory and the amount transferred to the nest work in process account

cost per unit

Ending inventory

Transferred to Work in process (step 2)

require: please write down the detailed of calculation of process ( how do you get those numbers)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Sivaramakrishna, Ramji Balakrishnan

1st Edition

0471467855, 978-0471467854

More Books

Students also viewed these Accounting questions

Question

For Any event A, show that A And are independent.

Answered: 1 week ago

Question

How is a standardized residual different from a residual?

Answered: 1 week ago