Answered step by step
Verified Expert Solution
Question
1 Approved Answer
This is my second time uploading same questions. In the images provided are the answers to the questions. Can you please show me how you
This is my second time uploading same questions. In the images provided are the answers to the questions. Can you please show me how you get the answer?
Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 20% complete with respect to conversion costs and the ending inventory is 50% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 200 units Units transferred out 270 units Units in ending inv. 160 units Beginning work-in-process costs: Materials $142,000 Conversion $120,000 The DM cost/eu was determined to be $940. The CC cost/eu was determined to be $1160. How much conversion cost is assigned to ending inventory using FIFO? 92,800 margin of error +/- 0.1 Four Seasons Company makes snow blowers. No materials are added to the process, but the transferred in units are treated as a direct material that is added the beginning of the process. This means that beginning and ending inventories are 100% complete. The conversion costs are uniformly incurred. The physical units in beginning inventory are 30% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 180 units Units transferred out 280 units Units in ending inv. 130 units Added conversion costs $237,000 Added Transferred in costs $232,000 Beginning work-in-process costs: Transferred in cost $107,000 Conversion $116,000 Using the weighted average method, what is the transferred-in cost per eu ? 826.83 margin of error +/- 0.1 Four Seasons Company makes snow blowers. No materials are added to the process, but the transferred in units are treated as a direct material that is added the beginning of the process. This means that beginning and ending inventories are 100% complete. The conversion costs are uniformly incurred. The physical units in beginning inventory are 40% complete with respect to conversion costs and the ending inventory is 90% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 210 units Units transferred out 250 units Units in ending inv. 140 units Added conversion costs $209,000 Added Transferred in costs $227,000 Beginning work-in-process costs: Transferred in cost $124.000 Conversion $148.000 Using FIFO, what is the transferred in cost per eu? 1,261.11 margin of error +/-0.1Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started