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Problem 2: Overton Company has gathered the following information: Beginning WIP Units Started Units Completed and transferred out Ending WIP Costs: WIP Costs Added
Problem 2: Overton Company has gathered the following information: Beginning WIP Units Started Units Completed and transferred out Ending WIP Costs: WIP Costs Added during period Requirements: Units Materials Conversion 14,200 100% 60% 189,000 179,700 23,500 100% Materials Conversion Total 45% $ 23,540.00 $ 35,400.00 $ 58,940.00 $ 226,396.00 $ 297,581.25 $ 523,977.25 1. Complete the following using Weighted Average Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs 2. Complete the following using FIFO Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs
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