Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Check my work Required information The following information applies to the questions displayed below! QualCo manufactures a single product in two departments Cutting and Assembly

image text in transcribed

image text in transcribed

Check my work Required information The following information applies to the questions displayed below! QualCo manufactures a single product in two departments Cutting and Assembly During May, the Cutting department completed a number of units of a product and transferred them to Assembly. Of these transferred units, 39,300 were in process in the Cutting department at the beginning of May and 168,500 were started and completed in May, May's Cutting department beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of May, 53.100 additional units were in process in the Cutting department and were 70% complete with respect to materials and 20% complete with respect to conversion. The Cutting department had $695.872 of direct materials and $433.923 of conversion cost charged to it during May. Its beginning inventory included $75,875 of direct materials cost and $30,293 of conversion cost. 2-4. Using the FIFO method, assign May's costs to the units transferred out and assign costs to its ending work in process inventory (Round "Cost per EUP" to 2 decimal places.) Equivalent units of production (EUP): FIFO method EUP als EUP. Materials % Conversion Styles OUT U S AR JU, LUDUS u m of production (EU FIFO method Uits Materials EUP. Materials Conversion Cost per equivalentuelt of production Materials EUP - Equivalent units of production Cost per equivalent unit of production rounded to 2 decimals Total costs accord for: Beginning inventory Cost Cost to complete units in beginning inventory EUP Direct materials Cost per LUP Total cost EUP Cost per EUP Total cost Total cost to complete beplanning inventory Cost of us started and completed Dired materials Campsion Total cost of units started and completed Total cost of units transferred out Costs of ending work in process Direct mat Convention Total cost of ending work in process Total cost accounted for EUP Cost per EUP Total cost

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

Intermediate Accounting 2007 FASB Update Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

12th Edition

0470128763, 978-0470128763

More Books

Students also viewed these Accounting questions

Question

Where do the authors work?

Answered: 1 week ago