Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[The following information applies to the questions displayed below.) A production department in a process manufacturing system completed its work on 86,000 units of product

image text in transcribed
image text in transcribed
[The following information applies to the questions displayed below.) A production department in a process manufacturing system completed its work on 86,000 units of product and transferred them to the next department during a recent period of these units, 34,400 were in process at the beginning of the period. The other 51600 units were started and completed during the period At period-end, 17,800 units were in process 128 Prepare the production department's equivalent units of production for direct materials under each of three separate assumptions using the weighted average method for process costing Equivalent Units of Production (EUP)--Weighted Average Method 1. All direct materials are added to products when processing begins. Units % Materials EUP Materials Goods completed 06.000 100% 36.000 tending work in proces 17.800 100% 17.800 Total 103,800 103,800 2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 70% complete as to materials and conversion costs. Units Motorlats EUP Matnih Goods completed 85,000 100% 17.800 70% Total 103,800 3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs, Ending Inventory is 30% complete as to materials and 60% complete as to conversion costs Units 14 Materials LUP -Mitorials 35.000 17.800 Total 103 100 Required Information The following information applies to the questions displayed below) A production department in a process manufacturing system completed its work on 86,000 units of product and transferred them to the next department during a recent period of these units, 34 400 were in process at the beginning of the period. The other 51,600 units were started and completed during the period. At period end, 17,800 units were in process 2 of 2 2 01210 Prepare the department's equivalent units of production with respect to direct materials under each of the three separate assumptions using the FIFO method for process costing Equivalent Unit of Production (CUP)-FIFO Method 1. All direct materials are added to products when processing begins % Materials UP Miletak 2. Beginning inventory is 40% complete as to materials and conversion costs Ending inventory 1570% complete sto materials and conversion costs. eginning inventory is completes to make and to complete as to consin Coding investors 10% testo marido com a conversion coste

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

External Quality Audit Has It Improved Quality Assurance In Universities

Authors: Mahsood Shah, Chenicheri Sid Nair

1st Edition

1843346761, 978-1843346760

More Books

Students also viewed these Accounting questions