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USE FIFO METHOD OF PROCESS COSTING!! Conversion Costs $100,000 Trendy Company uses the First-in, First-out (10) for the month of May 2021: Physical Units Direct
USE FIFO METHOD OF PROCESS COSTING!!
Conversion Costs $100,000 Trendy Company uses the First-in, First-out (10) for the month of May 2021: Physical Units Direct Materials Beginning work in process (May 1)" 100 $260,000 Started in May 2021 600 Completed during May 2021 500 Ending work in process (May 31) Total costs added during May 2021 $3,639,680 "Degree of completion direct materials, 80% conversion costs, 60%. Degree of completion: direct materials, 70%; conversion costs, 25% 200 $1,500.430 Required: 1. Calculate the total manufacturing cost per equivalent unit (Round any cost per equivalent unit to the nearest dollar). Answer: 2. Calculate the total cost of all the units that were initially in the beginning work-in-process inventory and were subsequently added to complete the beginning work-in-process inventory. Answer: 3. Calculate the total costs of all the units that were started during May and subsequently completed before the end of the period Step by Step Solution
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