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can i please get help with this it is due today 3/5 for me Elre Products is a specialty lubricants company. The Lake Plant produces
can i please get help with this it is due today 3/5 for me
Elre Products is a specialty lubricants company. The Lake Plant produces a single product in three departments: Filtering. Blending, and Packaging. Additional materials are added in the Blending Process when units are 50 to 55 percent complete with respect to conversion. Information for operations in June in the Blending process appear as follows. Work in process on June 1 consisted of 10,600 barrels with the following costs: During June, 124.000 barrels were transferred in from Filtering at a cost of $172,360. The following costs were added in Blending in June. Biending finished 123,000 barrels in June and transferred them to Packaging At the end of June, there were 11,600 barrels in work in process inventory. The units were 60 percent complete with respect to conversion costs. The Blending Department uses the FIFO method of process costing. The Filtering Dopartment at Eire uses the welghted-average method of process costing. The cost analyst in Blending has learned that if the Fittering Department at Elre had used the FiFO method the amount of costs transferred in from Fitering would have been $14,100 in the beginning work in process and $160,400 for the amount transferred in this month EIRE PRODUCTS Blending Department Production Cost Report-FIFO Flow of Production Units Units to be accounted for: \begin{tabular}{|c|} \hline Beginning WIP inventory \\ \hline Units started this period \\ \hline Total units to be accounted for \\ \hline \end{tabular} Units accounted for: Cost per equivalent unit. \begin{tabular}{|l|} \hline Priot department costs \\ \hline Materials \\ \hline Corversion \\ \hline \end{tabular} Costs acoounted for Step by Step Solution
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