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Process Costing Equivalent units FIFO Method - Please answer question 8 Uze the following data to aaswer Questions 6 uhrougt 8. In the Mixing Department,llmaeriels
Process Costing Equivalent units FIFO Method - Please answer question 8
Uze the following data to aaswer Questions 6 uhrougt 8. In the Mixing Department,llmaeriels are added at the beginning of the proeess Labor and overbezd (cenversioa rescurces) are added evenly throuphout the proccas. The fulliowing insormation pertains to the Mixing Department for the month of August Coeversion S2,340 Boginming work-in-process inventory 1,000 units Units sterted in Angust Ending work-in proecss invenkory Costs addied in August Physical anits Materials (90% comple) 6,000 niis 800 umils S4,600 (30% compl $40,200 9, & How many units wore coampld.ed and trarsferred o? A. 4,100 prits 5.901 unila D. 6,200 urits sveutory? 7. Using the wcighted avera ge mecthod, whuat is the cost essigned to tbe ending work-in-proees i A. 55,TM0 B. 57,062 C, $7,649 D. $8,280 8. Using the FIFO mcthod, what is the cust assigned tn tbe cuding wur ia-process u invectory? A. $8,855 B. $8,680 C. 57,517 D. S10260 9. Refer tn your work for Question 8. Assume tbet the Mixing Department transfers units that it compicters to pecess Provide the jourmal entry so reaued the Finishing Department to do the fina] work in tho production the transfer of tmits out of the Mixing Department and to the Finishing DepurmentStep by Step Solution
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