Question
NEED ANSWERS AS SOON AS POSSIBLE PLEASE. Sandbox Corporation operates two departments, Department 1 and 2. - In Department 1, materials are added in 2
NEED ANSWERS AS SOON AS POSSIBLE PLEASE.
Sandbox Corporation operates two departments, Department 1 and 2.
- In Department 1, materials are added in 2 stages, 60% at the start of the process and 40% when the process is 60% complete.
- In Department 2, 40% of materials are added at 40% completion, 60% at the end of the process. Conversion costs is added evenly in all the departments. FIFO method of costing is used.
The following production data are available for the year ended:
Department 1
In process beginning, 10,000 units, 75% complete
- Costs:
* Materials - Unit cost per EUP last month - PHP 12, Unit cost per EUP this month - PHP 14
* Conversion costs - Unit cost per EUP last month - PHP 20, Unit cost per EUP this month - PHP 22
- 40,000 units are started in this department, of which, 8,000 units are left 60% converted.
Department 2
In process beginning, 20,000 units, 50% complete
- Costs:
* Transferred in - Unit cost per EUP last month - PHP 35, Unit cost per EUP this month - PHP 35.1667
* Materials - Unit cost per EUP last month - PHP 15, Unit cost per EUP this month - PHP 16
* Conversion costs - Unit cost per EUP last month - PHP 25, Unit cost per EUP this month - PHP 28
- Of the units transferred from Department 1, 10,000 units are left 30% completed.
1. How many units are transferred to Department 2 for the period?
2. How much is the Equivalent Unit of Productions for Materials in Department 1 for this period?
3. How much is the Equivalent Units of Production for conversion cost in Department 1 for this period?
4. How much is the cost of the beginning inventory (75% complete) in Department 1?
5. How much is the total cost of units transferred from Department 1, to Department 2 during the period?
6. How much is the cost of the ending inventory (8,000 units, 60% complete) in Department 1?
7. How much is the cost of the beginning inventory (20,000units, 50% complete) in Department 2? Don't forget to consider the transferred-in cost.
8. How much is the cost of goods completed in Department 2 for the current period? Don't forget to consider the transferred-in cost.
9. How much is the cost of ending inventory (10,000 units, 30% complete) in Department 2? Don't forget to consider the transferred-in cost.
10. How much is the equivalent units of production for conversion cost in Department 2 for the current period?
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