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Jones Company records the following figures for the month: Physical Units Transferred-In Cost Direct Material Conversion Cost Beginning WIP 205 $3,000 $4,500 $3,500 Beginning WIP
Jones Company records the following figures for the month: | ||||||||
Physical Units | Transferred-In Cost | Direct Material | Conversion Cost | |||||
Beginning WIP | 205 | $3,000 | $4,500 | $3,500 | ||||
Beginning WIP %-Complete | 100% | 75% | 35% | |||||
Units Started / Added-in | 4,505 | $75,000 | $115,000 | $86,000 | ||||
Units Completed and Transferred to FG | 4,350 | |||||||
Ending WIP | 360 | |||||||
Ending WIP %-Complete | 100% | 60% | 20% | |||||
(2) Using the FIFO method, calculate the total cost that will be transferred to FG Inventory and remain in ending WIP. |
Please help me with the red cell! i need help calculating the $/EU.
Beginning Added Total To Account Completed & For Transferred-Out Ending Total Accounted For Physical Units 205 4505 4350 360 Transferred-In % Complete EU $/EU $ 100% 360 4710 100% 205 $14.63 $3,000 100% 4505 $16.65 $75,000 100% 4350 $17.24 $75,000 $8.33 $3,000 $78,000 $78,000 Direct Mati % Complete EU $/EU $ 4659 4566 75% 154 $29.27 $4,500 100% 4505 $25.53 $115,000 100% 4350 $26.44 $115,000 60% 216.00 $20.83 $4,500 $119,500 $119,500 Conversion % Complete EU $/EU $ 35% 72 4422 100% 4505 $19.09 $86,000 100% 4350 $19.77 $86,000 20% 72 $48.61 $3,500 $48.78 $3,500 $89,500 $89,500 Total Cost $11,000 $276,000 $287,000 $276,000 $11,000 $287,000Step by Step Solution
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