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Trendy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department.
Trendy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the and of the process. Conversion costs ara acidad evenly curing the process. Suppose Trandy uses the FIFO method. Information for June 2020 follows: (Cilek the loan to view the Information.) Read the requirements. Requirement 1. Calculate equivalent units of work done in the current period for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process inventory. (Enter a "0" for any zero balances.) Equivalent Units Work in process, beginning Transferred-in during current period To account for Completed and transferred our during current period: From beginning works in process Started and completed Work in process, ending Accounted for Equivalent units at work done in current parod Data table Physical Units Transferred-In (tons) Costs Direct Materials Conversion Costs 60 100 160 B D Physical Units (tons) Transferred-In Costs Direct Materials Conversion Costs 2 Work in process, beginning inventory (June 1) 60 5 3 100 120 100 120 100 100 50 Degree of completion, beginning work in process Transferred-in during June 45,000 $ 100% CS 24.000 0% 50% 100 10 160 7 220 100 150 5 Completed and transferred out during June Work in process, ending inventory (June 30) Degree of completion, ending work in process 8 Total costs added during June 120 40 100% 0% 75% $ 114,100 $ 27 B24 Print Done
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