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Please help me with the questions in the file. Thank you! Q1) Equivalent Units: FIFO Method The following data are for four independent process-costing departments.
Please help me with the questions in the file. Thank you!
Q1) Equivalent Units: FIFO Method The following data are for four independent process-costing departments. Inputs are added continuously. Compute the equivalent units of production for each of the four departments using the FIFO method. Q2) Equivalent Units: Weighted Average Method The following data are for four independent process-costing departments. Inputs are added continuously. A B C D Beginning inventory 7,000 3,000 41,000 Percent completion 30% 80% 70% Units started 29,000 20,000 48,000 31,000 Ending inventory 6,000 10,000 13,000 Percent completion 20% 30% 25% Required: Compute the equivalent units of production for each of the preceding departments using the weighted average method. Q3) Physical Flow, Equivalent Units, Unit Costs, No Beginning WIP Inventory, Activity-Based Costing. Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: Plate Cutting, Rod Cutting, and Welding. Materials are added at the beginning of the process. Overhead is applied using the following drivers and activity rates: 1. Prepare a physical flow schedule. If an answer is zero, enter "0". 2. Calculate equivalent units of production for: Equivalent Units a. Direct Materials b. Conversion Costs Correct 1 of Correct 2 of 3. Calculate unit costs for the following. $ Correct 3 of a. Direct materials per unit b. Conversion costs per Correct 4 of unit c. Total manufacturing $ Correct 5 of per unit 4. Provide the following information: a. The total cost of units transferred out b. The journal entry for transferring costs from Plate Cutting to Welding c. The cost assigned to units in ending inventoryStep by Step Solution
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