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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 82% complete as to conversion costs; units started into production 1,000 units; units transferred out to next department 910 units; ending WIP are 100% complete as to materials and 48% complete as to conversion costs. - Manufacturing costs: Beginning WIP TL8,800 materials, TL9,260 labor and TL2,800 MOH costs. In current period, TL50,100 worth of materials, TL25,600 worth of labor and TL32,000 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
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