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The photo posted already have the correct answers for that part. I need help with the others. This Using the FIFO method btw. ! Required
The photo posted already have the correct answers for that part. I need help with the others. This Using the FIFO method btw.
! Required information SB (Algo) Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process [LO 3-2, 3-3, 3-S1) 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 Work in process, July 1 (100% complete for materials, 25% for conversion) Direct materials Conversion cost 118,000 units $ 232,000 $ 386,000 Number of units started 212,000 units July costs Direct materials Conversion cost $ 418,000 $ 476,000 Work in process, July 31 (100% complete for materials, 10% for conversion) 136,000 units 2 Work in process, July 31 (100% complete for materials, 10% for conversion) 136,000 units 2 of 2 E3-16 (Algo) FIFO [LO 3-S1) ts 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. eBook Hint Print Saved Chapter Three Assignment 2 Required information 3. Calculate cost per equivalent unit, 4. Reconcile the total cost of work in process. Part 2 of 2 Complete this question by entering your answers in the tabs below. 25 points Required 1 Required 2 Required 3 Required 4 oBook Hint Print Reconcile the number of physical units worked on during the period. Physical Physical Units Units Beginning Units 118,000 Units Completed 194,000 Units Started 212,000 Ending Units 136,000 Total Units 330,000 Total Units 330,000 References Required 2 > Required information 3. Calculate cost per equivalent unit 4. Reconcile the total cost of work in process. rt 2 of 2 Complete this question by entering your answers in the tabs below. 5 ints Required 4 eBook Required 1 Required 2 Required 3 w Calculate the number of equivalent units. Hint Print References Beginning Inventory Started and Completed Ending Inventory Total Units Physical Units 118,000 76,000 136,000 330,000 Equivalent Units Direct Conversion Materials 88,500 76,000 76,000 136,000 13,600 212,000 178,100 Required information + 2 of 2 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. nts Complete this question by entering your answers in the tabs below. oBook Hint Required 1 Required 2 Required 3 Required 4 Print Calculate cost per equivalent unit. (Round cost per Equivalent Unit to 5 decimal places.) References Direct Materials Conversion $ 1.97170 $ 2.67266 Cost per Equivalent Unit 2 Required information 3. Calculate cost per equivalent unit. 4. Reconcile the total cost of work in process. Part 2 of 2 Complete this question by entering your answers in the tabs below. 25 points Required 1 Required 2 Required 3 Required 4 eBook Hint Reconcile the total cost of work in process. (Use Cost per Equivalent Unit rounded to 5 decimal places and your final to the nearest whole dollar amount.) Print References Prior Period Costs Current Period Costs Direct Conversion Materials Total Cost Beginning Inventory Started and Completed Ending Inventory Total Cost Accounted for $ 05 0 S 0 $ 0 Step by Step Solution
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