Question
The smelting department of Company X has following production and cost data for September: Production: Beginning work in process 200 units that are 100% complete
The smelting department of Company X has following production and cost data for September: Production: Beginning work in process 200 units that are 100% complete as to materials and 73% complete as to conversion costs; units started into production 1,000 units; ending work in process 250 in units that are 100% complete as to materials and 57% complete as to conversion costs. Manufacturing costs: Beginning work in process TL8,300 materials, TL9,270 labor and TL2,500 manufacturing overhead costs. In current period, TL50,500 worth of materials, TL25,900 worth of labor and TL33,000 worth of manufacturing overhead costs are incurred. Q-1) Compute the material cost portion of the transferred out inventory if the company uses WA method to compute equivalent units. Q-2) Compute the conversion cost portion of the transferred out inventory if the company uses FIFO method to compute equivalent units. method to compute equivalent units. Q-3) Compute the material cost portion of the ending inventory if the company uses FIFO method to compute equivalent units. Q-4) Compute the conversion cost portion of the ending inventory if the company uses WA method to compute equivalent units.
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