Homework: Chapter 18 Assignment Part 6 of 7 Question 5 Score: 0.41 of 1 point Save Maxichip specializes in the manufacture of ball bearings for aircraft. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Normally, the spoiled units are 15% of the good units transferred out. Spoiled units are disposed of at zero net disposal price. Maxichip uses the FIFO method of process costing. Summary data for September 2018 are: (Click the icon to view the data.) Required 1. For each cost element, compute the equivalent units. Show physical units in the first column. 2. For each cost element, calculate the cost per equivalent unit. 3. Summarize total costs to account for, and assign these costs to units completed and transferred out (to normal spoilage), to abnormal spoilage, and to units in ending work in process. Materials Costs Costs added in current period S 582,400 $ 291,750 3.125 Divide by: Equivalent units of work done in current period 2.800 S 208 $ 93.36 Cost per equivalent unit Now assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work in process. (Complete all answer boxes. For accounts with a 50 balance, make sure to enter "0" in the appropriate column. Round your answers to the nearest whole dollar.) Total Direct Materials Conversion Costs Production Costs 115,420 $ Completed and transferred out: Work in process, beginning 's Costs added to beginning inventory before normal spoilage Total from beginning inventory before normal spoilage 96,140'$ 0 0 19,280 84,958 34,958 200,378 Total costs of units completed and transferred out Choose from any list or enter any number in the input fields and then click Check Answer. Help Me Solve This e Text Pages Get More Help Clear All Check Answer Homework: Chapter 18 Assignment Part 6 of 7 Question 5 Score: 0.41 of 1 point Save Maxichip specializes in the manufacture of ball bearings for aircraft. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Normally, the spoiled units are 15% of the good units transferred out. Spoiled units are disposed of at zero net disposal price. Maxichip uses the FIFO method of process costing. Summary data for September 2018 are: (Click the icon to view the data.) Required 1. For each cost element, compute the equivalent units. Show physical units in the first column. 2. For each cost element, calculate the cost per equivalent unit. 3. Summarize total costs to account for, and assign these costs to units completed and transferred out (to normal spoilage), to abnormal spoilage, and to units in ending work in process. - X Data Table Costs added in current period Divide by: Equivalent units of work done in current per Cost per equivalent unit Physical Units Conversion Direct Materials $96,140 Now assign total oosts to units completed and transferred ou appropriate column. Round your answers to the nearest Costs $19,280 his with a 50 balance, make sure to enter "0" in the (ball bearings) Work-in-process, September 18 1,300 Started during September 2018 2,800 Good units completed and transferred out during September 2018 1.700 Work-in-process, September 306 900 Costs added during September 2018 Degree of completion direct materials, 100%; conversion costs, 30%. Degree of completion direct materials, 100%; conversion costs, 35% $582,400 $291,750 Completed and transferred out: Work in process, beginning Costs added to beginning inventory before normal Total from beginning inventory before normal spoile Print Done Total costs of units completed and transferred out Choose from any list or enter any number in the input fields and then click Check Answer. . Help Me Solve This e Text Pages Get More Help Clear All Check
