Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200jgons In process, October 31 (1/4 complete) 11,700 jans Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 1.) Under FIFO method, what was the actual units of the Work in Process Beginning Inventory? 2.) Under FIFO method, what was the actual units of the Work in Process Inventory at the End? 3.) Under FIFO, how many units is the Equivalent Units Of Production (EUP) 4.) Under FIFO, how much is the unit cost? 5.) Under FIFO, how much is the cost of the work in process at the beginning?
Step by Step Solution
★★★★★
3.54 Rating (171 Votes )
There are 3 Steps involved in it
Step: 1
1 Normal spoilage refers to estimated unavoidable spoilage during normal course of production proces...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started