Question
Morris Manufacturing Started September with 10,000 units in process that were 75% complete at a cost of $24,800. During September, the following cost were incurred:
Morris Manufacturing Started September with 10,000 units in process that were 75% complete at a cost of $24,800. During September, the following cost were incurred:
Direct Material $162,200
Direct Labor $130,000
Factory overhead $171,200
During September, 55,000 units were completed and transferred to finished goods. There were 9,000 unit in pocess that were 30% completed at September 30. All materials are added at the beginning of production process and conversion costs are incurred evenly throughout.
Instructions:
Use a worshhet to determine the following using FIFO cost method:
1. Equivalent units of production for conversion costs.
2. Equivalent units of production for material costs.
3. Conversion cost per equivalent unit. $
4. Material cost per equivalent unit. $
5. Work in process inventoy, April 30. $
6. Cost of goods tranferred to finished goods warehouse. $
Please, I need the solution to the six questions, and the explanation step by step. Thank you!!
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