Question
What is the cost per equivalent unit for material? 2) Assume that FIFO process costing is used. What is the cost per equivalent unit for
What is the cost per equivalent unit for material?
2)
Assume that FIFO process costing is used. What is the cost per equivalent unit for conversion?
3)
What is the cost of units transferred out of Finishing?
Given the following information Beginning Work in Process Inventory (70% complete as to conversion) Started Ending Work in Process Inventory (10% complete as to conversion) Beginning WIP Inventory Costs: Material P23,400 Conversion 50,607 Current Period Costs: Material P31,500 Conversion 76,956 6,000 units 24,000 units 8,500 units All material is added at the start of the process and all finished products are transferred out. Assume that weighted average process costing is used. What is the cost per equivalent unit for material?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Step 1 Introduction Process costing makes use of the perception of fee in step with equivalent unit for materials to calculate the cost of materials according to unit of output By dividing the overall ...
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Step: 2
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
