Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ridgecrest Company manufactures plastic storage crates and has the following information available for the month of April: table [ [ Work in process, April

Ridgecrest Company manufactures plastic storage crates and has the following information available for the month of April:
\table[[Work in process, April 1,],[(100% complete for materials, 40% for conversion),32,100 units],[Direct materials,$48,900
Conversion cost
Number of units started
95,760 uni
April costs
Direct materials
Conversion cost
$136,500
$202,500
Work in process, April 30
(100% complete for materials, 20% for conversion)
48,900 unit
E3-10(Algo) FIFO Method [LO 3-4]
Required:
Using the FIFO method of process costing, complete each of the following steps:
Reconcile the number of physical units worked on during the period.
Calculate the number of equivalent units.
Calculate the cost per equivalent unit.
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
Using the FIFO method, calculate the number of equivalent units.
\table[[(100 compete Tor materias,40% Tor conversion),3,100 units],[Direct materials,$48,900
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Sound Investing, Chapter 8 - Revenue Hoaxes

Authors: Kate Mooney

3rd Edition

007171930X, 9780071719308

More Books

Students also viewed these Accounting questions