Equivalent Units and Product Cost ReportFIFO Method In its first month's operations (January 2016), Allred Company's Department 1 incurred charges of $140,000 for direct materials (10,000 units), $95,000 for direct labor, and $87,000 for manufacturing overhead At month end, 8,800 units had been finished and transferred out The remaining units were finished with respect to material but only 25 complete with respect to conversion costs Assuming Allred uses the FIFO method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following The equivalent units for material and conversion The cost per equivalent unit for material and conversion The total cost assigned to the units transferred out The total cost assigned to the ending inventory Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for Allred Company, Department 1 Equivalent Units Calculations, January 2016 Equivalent Units in January Direct Materials in January Conversion Costs Complete Transferred Beginning inventory Answer Answer Answer Answer Answer Started completed Answer Answer Answer Answer Answer Ending inventory Answer Answer Answer Answer Answer Total Answer Answer a Answer a cu 4 3 nown Vesa M9 90 Plky LED Equilvalent Unics and Product Cost Report FIFO Method In Isrz mo's opcrations Conry 2016L 41cd Company's Department 1 round charges or $140 000 for clect macrals 0,000 uncl 9 5,000 for direct obor, and 17 00 formancung ceresc A mordex, 2 200 unts had been tread and tracted cut The maining unicercnted with sotto mate tal but only 255 com ASSUMING A CSc Fromcthod and water are added at the bearing of the process and condono accurvenly compu the following The equivalent unitar mute la Brestor b The cost per talent and for materialardonsin c The tal cost assigned to the units transferred cut d The teal cost assigned to the endingin cry Prow that your soudars to rcquirements and disum to the al costs to be accounted for Aras Curipsity, PHILTEIL1 quhet nie Calculean january maben uns 4 in orden January Material January Cart Carpio'nland Derni TARMY UTV UV du Prames de IN USK UX 0 N OK Formy DX 04 0X , 0X GX Prusu ulei Bics Numeris Vs HY 743 Pyhurch wwwy MET tussion Can av 17,290 x A TENERISTEL Erk Dear MON Cronme I NORD $ Chai Warnt Albert Lulfurth 4aN EGINN IN attelan 20 Code, IF ANY CA NU OK

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Equivalent Units and Product Cost ReportFIFO Method In its first month's operations (January 2016), Allred Company's Department 1 incurred charges of $140,000 for direct materials

Equivalent Units and Product Cost ReportFIFO Method

In its first month's operations (January 2016), Allred Company's Department 1 incurred charges of $140,000 for direct materials (10,000 units), $95,000 for direct labor, and $87,000 for manufacturing overhead. At month-end, 8,800 units had been finished and transferred out. The remaining units were finished with respect to material but only 25% complete with respect to conversion costs.

Assuming Allred uses the FIFO method and that materials are added at the beginning of the process and conversion costs occur evenly, compute the following:

The equivalent units for material and conversion.
The cost per equivalent unit for material and conversion.
The total cost assigned to the units transferred out.
The total cost assigned to the ending inventory.
Prove that your solutions to requirements (c) and (d) sum to the total costs to be accounted for.

Allred Company, Department 1 Equivalent Units Calculations, January 2016
		Equivalent Units
		% in January	Direct Materials	% in January	Conversion Costs
Complete/Transferred
Beginning inventory	Answer	Answer	Answer	Answer	Answer
Started & completed	Answer	Answer	Answer	Answer	Answer
Ending inventory	Answer	Answer	Answer	Answer	Answer
Total	Answer		Answer	a.	Answer	a.

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cu 4:3 nown Vesa M9.90 Plky LED Equilvalent Unics and Product Cost Report-FIFO Method In Isrz. mo's opcrations Conry 2016L 41cd Company's Department 1 round charges or $140.000 for clect macrals 0,000 uncl. 9:5,000 for direct obor, and 17.00 formancung ceresc. A mordex, 2.200 unts had been tread and tracted cut. The maining unicercnted with sotto mate tal but only 255.com ASSUMING A CSc Fromcthod and water are added at the bearing of the process and condono accurvenly compu.. the following: The equivalent unitar mute la Brestor b. The cost per talent and for materialardonsin. c The tal cost assigned to the units transferred cut d. The teal cost assigned to the endingin.cry. . Prow that your soudars to rcquirements and disum to the al costs to be accounted for. Aras Curipsity, PHILTEIL1 quhet nie. Calculean january maben uns 4 in orden January Material January Cart Carpio'nland Derni TARMY UTV UV du Prames de IN USK UX 0 N OK Formy DX 04: 0X , 0X GX Prusu ulei Bics Numeris Vs HY 743 ::: Pyhurch wwwy MET tussion Can av 17,290 x A TENERISTEL Erk Dear MON Cronme:I-NORD $ Chai Warnt Albert Lulfurth|4aN : EGINN IN attelan 20 Code, IF ANY CA NU OK