Question
Use the following information to reconcile costs incurred in October: Work-in-process inventory, October 1 4,800 units Direct materials: 100% complete $ 11,280 Conversion: 20% complete
Use the following information to reconcile costs incurred in October:
| Work-in-process inventory, October 1 | 4,800 | units | |||||||||
| Direct materials: 100% complete | $ | 11,280 | |||||||||
| Conversion: 20% complete | $ | 16,058 | |||||||||
| Units started during October | 18,800 | units | |||||||||
| Units completed during October and transferred out | 17,800 | units | |||||||||
| Work-in-process inventory, October 31 | |||||||||||
| Direct materials: 100% complete | |||||||||||
| Conversion: 40% complete | |||||||||||
| Costs incurred during October | |||||||||||
| Direct materials | $ | 59,840 | |||||||||
| Conversion | $ | 92,892 | |||||||||
Required
Using the FIFO method, calculate the following:
a. Total equivalent units (to calculate cost per EU).
b. Costs per equivalent unit. (Round your answers to 4 decimal places.)
c. Cost of goods completed and transferred out. (Do no round your intermediate calculations. Round your final answer to the nearest whole dollar.)
d. Ending balance of the Work-in-Process Inventory account. (Do no round your intermediate calculations. Round your final answer to the nearest whole dollar.)
clothing wip is 5800, what is start and completed unit?
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Managerial Accounting
Authors: Ronald W Hilton
7th Edition
0073022853, 978-0073022857
