Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help on question 4 Fifo Method, Prysical Fow, Equivalent Uaits, Unit Costs, Cost Assigniment Swasey Fabrication, inci manufoctures frames for bicycles, Each frame

I need help on question 4 image text in transcribed
image text in transcribed
Fifo Method, Prysical Fow, Equivalent Uaits, Unit Costs, Cost Assigniment Swasey Fabrication, inci manufoctures frames for bicycles, Each frame passes through three processes: Cutting, Welding, and Painting. In September, the Cutting Department of the Tulsa, Oblahoma, plant reported the following data: a. In Cutting, all direct materials are added ot the beginning of the process. b. Beginning work in process consisted of 41,000 units, 20 percent complete with respect to direct labor and overhead. Costs in beginning inventory included direct materials; \$1,215,000; direct labor, $223,000; and applied overhead, $150,000. c. Costs adoed to preduction during the month were direct materials, $2,575,000 : direct lobor, $3,471,250. Overhead was assigned using the folloming information: Wravereng or une month, 122,000 units were transferred out to Weiding. lesving 14,000 units in ending work in process, or 25 percent camplete. Aswme that the Firo method is used. Required: 1. Fiepare a phrsical now scheoule. 2. Calculate equivalent units of production for direct materlas and convervion costs 3. Coingute unit cost Round unit costs a final answer to three decimal places. per unit. 4. Caloblete the cost of goods transferred to Welang at the end of the month. In vour calculations, round unit costs to three decimal places. Round your final answer to the nearest dollar. x Calobate the cast of ending itwentory. In your calculations, round unit costs to three decimal places. Round your ninal answer to the nearest doliar

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Chapters 14-26

Authors: Carl Warren

27th Edition

1337272116, 978-1337272117

More Books

Students also viewed these Accounting questions