Question
Equivalent Units CalculationsFIFO Method Ferris Corporation makes powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the
Equivalent Units CalculationsFIFO Method
Ferris Corporation makes powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Ferris uses the FIFO method of process costing. In the Compounding Department, beginning work in process was 6,000 pounds (70% processed), 38,000 pounds were started in process, 36,000 pounds transferred out, and ending work in process was 60% processed.
Calculate equivalent units for the Compounding Department for March 2019.
Ferris Company Flow of Units and Equivalent Units Calculation, March 2019 | |||||
---|---|---|---|---|---|
Equivalent Units | |||||
% in March | Direct Materials | % in March | 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
| Answer
|
Please explain how you got this answer? We cannot figure out what the started and completed is? Please figure this out ASAP
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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