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PLease find the empty boxes and show calculations. The Smith Processing Company had work in process at the beginning and end of March in its
PLease find the empty boxes and show calculations.
The Smith Processing Company had work in process at the beginning and end of March in its Painting Department as follows: E: (Click the icon to view the work-in-process information.) The company completed 35,000 units during March. Manufacturing costs incurred during March were direct materials costs of $400,000 and conversion costs of $800,000. Inventory at March 1 was carried at a cost of $60,000 (direct materials$50,000 and conversion costs$10,000). Assuming Smith uses FIFO costing, determine the equivalent units of work done in March and calculate the cost of units completed and the cost of units in ending inventory. - X sts of ctu 51 Data table ending Percentage of Completion Direct Materials Conversion Costs 50% 10% 10% 80% March 1 (10,000 units) March 31 (20,000 units) ni 10 15 55 Iloilo Print Done 10,000 60001 Equivalent Units Direct Conversion Materials Costs Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Physical Units 10,000 45,000 55,000 10,000 25,000 20.000 25,000 25,000 2nnn 16 nnn 45,000 55,000 Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for Equivalent unts of work done in current period 10,000 25,000 20,000 55,000 25,000 2,000 25,000 16,000Step by Step Solution
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