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 25,600 units to the blending department. Of the units completed, 4,700 were from beginning inventory and the remaining 20,900 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 4,100 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 Beginning work in process inventory Added during the month Direct Materials Conversion $ 11,600 $ 95,025 330,000 1,162,350 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: Total costs to account for: 0 $ 0 Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- FIFO method Units % Materials EUP - Materials % Conversion EUP-Conversion 0 0 0 Total units Cost per equivalent unit of production Materials Conversion Costs EUP Costs EUP 0 Total costs = Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for 0 Equivalent units of production (EUP)- FIFO method Units % Materials 0% 100% 100% EUP - Materials 0 20,800 2,600 23,400 Materials % Conversion EUP-Conversion 60% 2,040 100% 20,800 80% 2,080 24,920 Conversion Costs EUP Costs EUP 23,400 0.00 24,920 0.00 $ $ Beginning work in process inventory - units 3,400 Units started and completed this period 20,800 Ending work in process - units 2,600 Total units 24,200 Cost per equivalent unit of production Costs incurred this period 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 of units started and completed EUP Direct materials 20,800 Conversion 20,800 $ Total cost of units started and completed Total cost of units transferred out Cost per EUP Total cost 0 $ Cost per Total cost EUP $ 0 0.00 Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs accounted for Cost per EUP Total cost EUP 2,600 $ 0.00 $ 2,080 $ 0.00 0 0 0 $ 0 EUP Cost per EUP Total cost EUP Cost per EUP Total cost Total costs accounted for: Beginning Inventory Cost: Cost to complete beginning inventory Direct materials Conversion Total cost to complete beginning inventory Total cost of units in beginning inventory Cost of units started and completed 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 $ 0 $ 0.00 EUP Cost per EUP Total cost $ 0.00 $ $ 0.00 0 0
