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What i have inputted so far is correct. However I am having trouble figuring out the rest. Your answer will be liked immediately, thank you!
What i have inputted so far is correct. However I am having trouble figuring out the rest. Your answer will be liked immediately, thank you!
Required information Use the following information for the Exercises below. The following information applies to the questions displayed below.) During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion Exercise 16-11A FIFO: Costs assigned to output LO C4, P4 The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs. Using the FIFO method, prepare the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) Equivalent Units of Production (EUP). FIFO Method Units EUP Conversion 36,000 60,000 240.000 Materials EUP. Materials Conversion 409 24,000 60% 100 240,000 BOW 55,600 30 329,600 1001 240,000 82,000 382,000 24.600 300.000 Materials 5 850,300 Units to complete beginning work in process Units started and completed Unitsin ending work in process Equivalent units of production Cost per Equivalent Unit of Production costs incurred this period Total costs Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Casts to Account for: Direct materials current period Conversion costs - current period Conversion $ 649,200 5 640.200 Costs $ 50.368 Costs EUP EUP 300,000 $ 320,000 2.58 $ 2.16 Total costs to account for $ 0.00 Total costs accounted for 1,499,664.00 $ Difference due to rounding costunit (1.499,664.00) Assignment of Costs to Output of Department Cost of 60.000 units from beginning inventory Beginning inventory Materials to complete Cost per EUP Total cost EUP 24,000 $ 2.50 $ 61,920.00 36,000 $ 2.10 77,700.00 Conversion to complete Total costs to complete 139.600.00 $ 130,680.00 Total cost of 60.000 units in beginning inventory Cost of units started and completed this period Cost per EUP Total cost EUP Direct materials 2.58 $ 619,200.00 240,000 $ 240,000 $ Conversion costs 2.16 518,400.00 Total cost of 240,000 units started and completed Total cost of 300,000 units transferred out 1,137,600.00 S 1,277,280.00 Costs of units in ending inventory Cost per EUP Total cost EUP Direct materials 65,600 $ 258 $ 169.248.00 Conversion costs 24,600 $ 2.16 53,136.00 Total cost of 82,000 units in ending inventory 222,384.00 $ Total costs assigned 1.499,064.00 Step by Step Solution
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