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can you use the FIFO methoed to solve problem 6-49 There are all the steps of the solution , however the instrctor asked to find
can you use the FIFO methoed to solve problem 6-49
There are all the steps of the solution , however the instrctor asked to find using FIFO methoed, can you do the problem using FIFO methoed?
I attached all the pics of the problem.
I uploaded a new picture from the book it could help
if not, check book cost mangament a strategic emphasis 7th edetion chapter 6 problem 6-49
cCoti aiinagement,and Cost Systems APCO Company manufac 6-49 Weighted-Average Method, Transferred-in Costs: Spoilage (Appendix) APCO Compuny tures various lines of bicycles. Because of the high volume of each line, the company process cost system using the weighted-average method to determine unit costs. Bicycle manufactured in the molding department and then are consolidated into a single bike unit in ing department and transferred to the assembly department where they are assembled. After assen bly, the bicycle is sent to the packing department the mold- Annual cost and production figures for the assembly department are presented in the schedules the follow the requirements Defective bicycles are identified at the inspection point when the assembly labor process is 70% com- plete; all assembly materials have been added at this point. The normal rejection for defective bicycles is 5% of the bicycles reaching the inspection point. Any defective bicycles above the 5% quota e considered to be abeormal. All defective bikes are removed from the production process and destroyed Required 1. Compate the number of defective, or spoiled, bikes that are comsidered to be a. Normal b. Abnormal. 2. Compute the equivalent units of production for the year for a. Bicycles transferred in from the molding department. b. Bicycles produced with regard to assembly material. c. Bicycles produced with regard to assembly conversion 3. Compute the cost per equivalent unit for the fully assembled bike. 4. Compute the amount of the total prodaction cost of $1,672.020 that will be associated with the following itm a. Normal spoiled units. b. Abnormall spoiled units c. Good units completed in the assembly department d. Ending work-in-process inventory in the assembly department 5. Describe how to present the applicable dollar amounts for the following items in the foua a. Normal spoiled units b. Abnormal spoiled units. c. Completed units transferred in to the packing department. Assembly Department Cost Deta Transferred in from Melding Assembly Conversion Bake Assembly Total Cost of Department s- 82.200 1,237,800 $1 Materials s-e660 96,840 $103,500 Prior period costs Current period costs 11,930 100,790 236.590 1571,230 248,520 $1,572,020 Total costs Assembly Department Production Data Materials- 100% Conversion 100%-- 100 100 Transferred in from molding during year Transferred out to packing during year 40,000 Ending inventory 100 100 50 CMA Adapted) 4,64,641 6-50 Process Costing and manofacturer of specialty chemicals cCoti aiinagement,and Cost Systems APCO Company manufac 6-49 Weighted-Average Method, Transferred-in Costs: Spoilage (Appendix) APCO Compuny tures various lines of bicycles. Because of the high volume of each line, the company process cost system using the weighted-average method to determine unit costs. Bicycle manufactured in the molding department and then are consolidated into a single bike unit in ing department and transferred to the assembly department where they are assembled. After assen bly, the bicycle is sent to the packing department the mold- Annual cost and production figures for the assembly department are presented in the schedules the follow the requirements Defective bicycles are identified at the inspection point when the assembly labor process is 70% com- plete; all assembly materials have been added at this point. The normal rejection for defective bicycles is 5% of the bicycles reaching the inspection point. Any defective bicycles above the 5% quota e considered to be abeormal. All defective bikes are removed from the production process and destroyed Required 1. Compate the number of defective, or spoiled, bikes that are comsidered to be a. Normal b. Abnormal. 2. Compute the equivalent units of production for the year for a. Bicycles transferred in from the molding department. b. Bicycles produced with regard to assembly material. c. Bicycles produced with regard to assembly conversion 3. Compute the cost per equivalent unit for the fully assembled bike. 4. Compute the amount of the total prodaction cost of $1,672.020 that will be associated with the following itm a. Normal spoiled units. b. Abnormall spoiled units c. Good units completed in the assembly department d. Ending work-in-process inventory in the assembly department 5. Describe how to present the applicable dollar amounts for the following items in the foua a. Normal spoiled units b. Abnormal spoiled units. c. Completed units transferred in to the packing department. Assembly Department Cost Deta Transferred in from Melding Assembly Conversion Bake Assembly Total Cost of Department s- 82.200 1,237,800 $1 Materials s-e660 96,840 $103,500 Prior period costs Current period costs 11,930 100,790 236.590 1571,230 248,520 $1,572,020 Total costs Assembly Department Production Data Materials- 100% Conversion 100%-- 100 100 Transferred in from molding during year Transferred out to packing during year 40,000 Ending inventory 100 100 50 CMA Adapted) 4,64,641 6-50 Process Costing and manofacturer of specialty chemicalsStep by Step Solution
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