Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use below information for Questions 1 to 4: The smelting department of Company X has following production and cost data for September: Production: Beginning
Use below information for Questions 1 to 4: The smelting department of Company X has following production and cost data for September: Production: Beginning WIP 200 units that are 100% complete as to materials and 84% complete as to conversion costs; units started into production 1,000 units; units transferred out to next department 920 units; ending WIP are 100% complete as to materials and 49% complete as to conversion costs. Manufacturing costs: Beginning WIP TL8,900 materials, TL9,250 labor and TL2,900 MOH costs. In current period, TL50,200 worth of materials, TL25,500 worth of labor and TL34,000 worth of MOH costs are incurred. Q-1) Compute the material cost portion of the ending inventory if the company uses WA method to compute equivalent units. Q-2) Compute the conversion cost portion of the ending inventory if the company uses FIFO method to compute equivalent units. Q-3) Compute the material cost portion of the transferred out inventory if the company uses FIFO method to compute equivalent units. Q-4) Compute the conversion cost portion of the transferred out inventory if the company uses WA method to compute equivalent units.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Q1 Beginning WIP materials TL8900 Materials added TL50200 Total materials TL8900 TL50200 TL59...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
Document Format ( 2 attachments)
663de2f3e97d6_961322.pdf
180 KBs PDF File
663de2f3e97d6_961322.docx
120 KBs Word File
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started