cost accounting

Question 4 3 points Question Two [CLO15 Marks] Hi Industries manufactures plastic toys During October, His Fabrication Department started work on 10 000 models Ouring the month the company completed 12.000 models, and and th undy product I conversi to the Distribution Department There were 5.000 models in beginning inventory A direct materials costs are added at the beginning o throughout the production process method of process costing is being followed beginning complete as to conversions costs, while anding work i Deginning inventory Direct materiale costs $20.000 Conversion costs $13,000 Mamaching added on the accounting per Direct materials 500,000 Conversion costs $230,000 Requind 1. Compute equivalent units for both direct materials and conversion costs using the FIFO D Mark Mark 2. Compute the cost per ut for both direct materials and conversion costs uning the FIFO med Pesert answer to Question 2 bere ackboard X u 0 06 Less than half of the time remains Remaining Time: 46 minutes, 15 seconds. Question Completion Status S Moving to another question will save this response Question 4 of 5 5 points Question Two [CLO1 Marks Hill Industries manufactures plastic bays. During October, Hill's Fabrication Department started work on 10,000 models During the month, the company completed 12,000 models, and transferred them to the Distribution Department. There were 5,000 models in beginning inventory All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 30% complete as to conversion costs, while ending work in process was 60% completo as to conversion costs Beginning inventary Direct materials costs $20.000 Conversion costs $13.000 Manufacturing costs added during the accounting period Direct materials costs $50.000 Conversion costs $230,000 Required: 1. Compute equivalent units for both direct materials and conversion costs using the FIFO method 2 Compute the cost per unit for both direct materials and conversion costs using the FIFO method Insert answer to Question 2 here] (3 Marks] [2 marks] For the toolbar, press ALT+F10 (PC) or ALT+F+F10(Mac) BIVS Paragraph Anal 10pt (*** Question 4 !!! !!! 4 2 I X WEBCAM RECORDING x