Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TIBA-7 (similar to) Question Help Swain Company uses the FIFO method in its process costing system. The Mixing Department started the month with 200 units

image text in transcribedimage text in transcribed

TIBA-7 (similar to) Question Help Swain Company uses the FIFO method in its process costing system. The Mixing Department started the month with 200 units in process that were 20% complete, started in production 2,500 unite, and transferred 2.500 unite to the finished goods storage ares. Al materials are added at the beginning of the process and conversion oosta occur evenly. The units in process at the end of the month are 50% complete with respect to conversion costs. The department incurred the following costs: B Click the icon to view the casts. Read the racuirements 14A. How many unite are still in process at the end of the month? Determine the formula then enter the amounts to calculate units in process at the end of the month. Beginning balance Started in production Transferred out 200 2,500 2,600 In process units 100 15A. Compute the chuivalent units of production for the Mixing Department for the current month. Swain Company Production Coat Report - Mixing Department i Data Table Physical Units Equivalent Units Direct Conversion Materials Costs Total Direct Materiais 6210 UNITS Units to account for Beginning work-in-process Started in production Beginning WIP Added this month S 460 $ 5,750 S 1.150 6,525 S 1.810 3 12,275 S Conversion Costs 200 2500 7.875 13,885 Tola 2700 Tolal units to account for Print Done Units sccounted for: Beginning work-in-process Slarta and completed Transferred to Finished Goods TI18A-7 (similar to) Question Help Swain Company ises the FIFO method in its process costing system. The Mixing Department started the month with 200 units in process that were 20% complete, started in production 2,500 units, and transferred 2.600 units to the finisher grar's stomges area. All materials are added at the beginning of the process and conversion costs pour evenly. The units in process at the end of the month are 50% complete with respect to conversion casts. The degartrerit incurred the folowing costs: B Click the icon to view the costs.) Read the requirements VIII., we w IV Ww wWw wprowwwwww Beginning balance Started in production Transferred out In process unite 200 2,500 2,600 100 + + 15A. Compute the equivalent units of production for the Mixing Department for the current month Swain Company Production Cost Report - Mixing Department Physical Units Equivalent Units Direct Conversion Materials Costs i Data Table UNITS Units ho socount for: Beginning work-in-process Started in production IN 200 11 2500 Beginning WIP Added this month S 460 $ 5.750 $ Direct Materials 2700 Total 8,210 7,675 13,895 Total units to account for Conversion Curls 6.528 12 275$ S Total 1,510 $ Print Dons Unite accounted for: Beginning work-in-process Started and completed Transferred to Finished Goode Ending work-in-process 1 Total units secounted for

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_2

Step: 3

blur-text-image_3

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

Farmers Irs Audit Techniques Guide

Authors: Internal Revenue Service

1st Edition

1304134237, 978-1304134233

More Books

Students also viewed these Accounting questions

Question

Compose the six common types of social business messages.

Answered: 1 week ago

Question

Describe positive and neutral messages.

Answered: 1 week ago