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Required information [The following information applies to the questions displayed below.) Mirada Company manufactures handheld calculators and has the following information available for the month
Required information [The following information applies to the questions displayed below.) Mirada Company manufactures handheld calculators and has the following information available for the month of July: 117,000 units Work in process, July 1 (100% complete for materials, 25% for conversion) Direct materials Conversion cost $231,000 $385,000 Number of units started 211,000 units July costs Direct materials Conversion cost $417,000 $475,000 Work in process, July 31 (100% complete for materials, 10% for conversion) 135,000 units Required: Using the FIFO method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate cost per equivalent unit. 4. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Reconcile the number of physical units worked on during the period. Physical Units Physical Units Beginning Units Units Completed Ending Units Units Started Total Units Total Units Required 1 Required 2 Required 3 Required 4 Calculate the number of equivalent units. Physical Units Equivalent Units Direct Conversion Materials Beginning Inventory Started and Completed Ending Inventory Total Units Complete this question by entering your answers in Required 1 Required 2 Required 3 Required 4 Calculate cost per equivalent unit. (Round cost per Equivale Direct Conversion Materials Cost per Equivalent Unit Required 1 Required 2 Required 3 Required 4 Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decin to the nearest whole dollar amount.) Current Period Costs Prior Period Costs Direct Materials Conversion Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for $ 0 $ 0 $
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