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Kee-Jun-Song Corporation is a Korean multinational engineering and electronics conglomerate. Its products and services ranges from information technology, communications equipment and household appliances. Assuming the
Kee-Jun-Song Corporation is a Korean multinational engineering and electronics conglomerate. Its products and services ranges from information technology, communications equipment and household appliances. Assuming the following information related to one of its UHD television product-line UHD850. It is the company policy to apply Process Costing System for their products. Particular Physical Units D irect Conversion (UHD850) Materials Costs W (KRW) W (KRW) W (KRW) Beginning work in process (May, 1)* 100 271,000 98,400 Started in May 2020 Completed during May 2020 Ending work in process (May 31)** Total costs added during May 2020 3,825,000 1,654,400 201811865 * Degree of completion: direct materials, 80%: conversion costs, 45% ** Degree of completion: direct materials, 75%; conversion costs, 55% REQUIRED Assuming Kee-Jun-Song uses First-in First-Out method of process costing. (Note: Use the template on page 6 and 7 of the answer booklet) a Compute the equivalent units for direct materials and conversion costs. image1 (5) jpeg b. Calculate the cost per equivalent unit for direct materials and conversion costs. C. Assign total costs to units completed (and transferred out) and to units in ending work in process
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