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If you can try and clearly state what you think the answers are, as clear as possible, and try and explain it. It would be
If you can try and clearly state what you think the answers are, as clear as possible, and try and explain it. It would be greatly appreciated! I am not looking for JUST an answer, I am to understand them!
B 90 Accotod or t E started End of mont ed T07 40. Question 2 (8 marks) Norm Monthly information is as follows: Work in process: Conversion: degree of completion in WIP Costs of Material in WIP Costs of Conversion in WIP Beginning of month 1,000 units 60% 4,000 units 40% ? $ 8,100 $11,300 ? During the month: $27,975 $27,235 Costs incurred for Materials Costs incurred for Conversion 2,860 units were At month end: Direct Materials: Conversion costs: Spoiled Units: 90% are added at the beginning of the process, the rest at 90% conversion loO Detected at 80% conversion. Normal Spoilage 2% of units started completed, 140 units were spoiled Added evenly during the process. Required: A. Briefly explain the main difference between FIFO and Modified FIFO. B. Using Modified FIFO, calculate: i. Ending WIP Cost of Goods Manufactured Spoilage expense taoo ii. iii. P1000 N By wip Nounel spuluop Abmer en wip ted E ndwie 4o00 Complctul 2o umits + A t + so B 90 Accotod or t E started End of mont ed T07 40. Question 2 (8 marks) Norm Monthly information is as follows: Work in process: Conversion: degree of completion in WIP Costs of Material in WIP Costs of Conversion in WIP Beginning of month 1,000 units 60% 4,000 units 40% ? $ 8,100 $11,300 ? During the month: $27,975 $27,235 Costs incurred for Materials Costs incurred for Conversion 2,860 units were At month end: Direct Materials: Conversion costs: Spoiled Units: 90% are added at the beginning of the process, the rest at 90% conversion loO Detected at 80% conversion. Normal Spoilage 2% of units started completed, 140 units were spoiled Added evenly during the process. Required: A. Briefly explain the main difference between FIFO and Modified FIFO. B. Using Modified FIFO, calculate: i. Ending WIP Cost of Goods Manufactured Spoilage expense taoo ii. iii. P1000 N By wip Nounel spuluop Abmer en wip ted E ndwie 4o00 Complctul 2o umits + A t + soStep by Step Solution
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