Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is available from the Oils Division of Glasgow Corporation for December. Conversion costs for this division were 75 percent complete as to

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The following information is available from the Oils Division of Glasgow Corporation for December. Conversion costs for this division were 75 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process Inventory. Information about conversion costs follows MEP at December 1 (755 complete) units started and costs incurred during December units completed and transferred to next department during December Conversion Units Costs 105,0 5 381,600 546,000 2,359,825 405,000 The Oils Division uses FIFO. Required: --1. Compute the equivalent units for conversion costs. 0-2. Compute the cost per equivalent unit for conversion costs. 8-3. What was the conversion cost of work-in-process inventory in the Oils Division at December 31 b. What were the conversion costs per equivalent unit produced last period and this period, respectively? Complete this question by entering your answers in the tabs below. Regat Reg A2 Reg A3 Req Compute the equivalent units for conversion costs. Equivalent Req A2 > The following information is available from the Oils Division of Glasgow Corporation for December Conversion costs for this division were 75 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process Inventory. Information about conversion costs follows. WID at December 1 (75% complete) Units started and costs incurred during December Units completed and transferred to next department during December Conversion Units Costs 186,000 5 381,600 546,000 2,359,875 486,000 The Oils Division uses Fifo Required: 2-1. Compute the equivalent units for conversion costs 6-2 Compute the cost per equivalent unit for conversion costs 2-3. What was the conversion cost of work-in-process inventory in the Oils Division at December 312 b. What were the conversion costs per equivalent unit produced last period and this period, respectively? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Red B Compute the cost per equivalent unit for conversion costs. (Round your answer to 2 decimal places.) Cost pe valent The following information is available from the Oils Division of Glasgow Corporation for December Conversion costs for this division were 75 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process Inventory Information about conversion costs follows. VIP st December 1 (95% complete) Units started and costs incurred during Deceber units completed and transferred to next departent during December Conversion Units Costs 106,000 5 381,600 546,000 2,359,875 406,000 The Oils Division uses FIFO. Required: 0-1. Compute the equivalent units for conversion costs --2 Compute the cost per equivalent unit for conversion costs 2-3. What was the conversion cost of work-in-process inventory in the Oils Division at December 31? b. What were the conversion costs per equivalent unit produced last period and this period, respectively Complete this question by entering your answers in the tabs below. Reg A1 Reg AZ Req A3 Rege What was the conversion cost of work-in-process inventory in the Ols Divizion at December 317 (Do not round intermediate calculations) Conversion F The following information is available from the Oils Division of Glasgow Corporation for December Conversion costs for this division were 75 percent complete as to beginning work-in-process inventory and 50 percent complete as to ending work-in-process Inventory. Information about conversion costs follows. MIP at December 1 (75% complete) Units started and costs incurred during December Units completed and transferred to next departsent during December Conversion Units Costs 106, ee s381,600 546,000 2,359,875 486,000 The Oils Division uses FIFO, Required: -1. Compute the equivalent units for conversion costs. --2 Compute the cost per equivalent unit for conversion costs. 2-3. What was the conversion cost of work-in-process inventory in the Oils Division at December 31? b. What were the conversion costs per equivalent unit produced last period and this period, respectively? Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg AB Rega What were the conversion costs per equivalent unit produced last period and this period, respectively? (Round your answers to 2 decimal places) Cost Per Unit Previous period Current period ( Req A3

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

Signals and Systems using MATLAB

Authors: Luis Chaparro

2nd edition

123948126, 978-0123948120

Students also viewed these Accounting questions