Required information Problem 16-7AA FIFO: Process cost summary, equivalent units, cost estimates LO C2, C3, C4, P4 [The following information applies to the questions displayed below.) Dengo Co makes a trail mix in two departments: roasting and blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. During October, the roasting department completed and transferred 23,000 units to the blending department of the units completed, 3,400 were from beginning inventory and the remaining 19,600 were started and completed during the month. Beginning work in process was 100% complete with respect to direct materials and 40% complete with respect to conversion. The company has 2,800 units (100% complete with respect to direct materials and 80% complete with respect to conversion) in process at month-end. Information on the roasting department's costs of beginning work in process inventory and costs added during the month follows. Cost of beginning work in process inventory Added during the month Direct Materials Conversion $ 10,300 $ 111,690 266,560 1,117,584 Problem 16-7A Part 1 Required: 1. Prepare the roasting department's process cost summary for October using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for: Cost of beginning work in process Costs incurred this period Total costs to account for: $ 0 $ 0 37 Unit reconciliation: Units to account for: Beginning work in process inventory - units Units started this period Total units to account for Total units accounted for Units completed and transferred out Total units accounted for Equivalent units of production (EUP)- FIFO method Units % Materials EUP-Materials Conversion EUP Conversion 0 OO Total units Materials Conversion Cost per equivalent unit of production Costs EUP Costs EUP 0 0 0 0 Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for: Beginning Inventory Cost: Cost to complete beginning inventory EUP Direct materials Conversion Total cost to complete beginning inventory Total cost of units in beginning inventory Cost per EUP Total cost Cost of units started and completed EUP Cost per EUP Total cost $ 0 $ 0.00 Direct materials Conversion Total cost of units started and completed Total cost of units transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for EUP Total cost Cost per EUP $ 0.00 $ 0.00 $ 0 0 Journal entry worksheet Record the transfer of goods from Roasting to Blending. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31 Record entry Clear entry View general journal
