Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

*WILL POST TWICE, MULTIPLE PARTS* really need and appreciate the help Required information [The following information applies to the questions displayed below.] Dengo Co. makes

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed*WILL POST TWICE, MULTIPLE PARTS* really need and appreciate the help

Required information [The following information applies to the questions displayed below.] Dengo Co. makes a trail mix in two departments: roasting and blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. During October, the roasting department completed and transferred 25,400 units to the blending department. Of the units completed, 4,600 were from beginning inventory and the remaining 20,800 were started and completed during the month. Beginning work in process was 100% complete with respect to direct materials and 30% complete with respect to conversion. The company has 4,000 units (100% complete with respect to direct materials and 70% complete with respect to conversion) in process at month-end. Information on the roasting department's costs of beginning work in process inventory and costs added during the month follows. Cost Beginning work in process inventory Added during the month Direct Materials $ 11,500 324,880 Conversion $ 113,850 1,351,728 Required: 1. Prepare the roasting department's process cost summary for October using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) 1. Prepare the roasting department's process cost summary for October using the FIFO method. (Round "Cost per EUP" to 2 decimal places.) Total costs to account for: Total costs to account for: Unit reconciliation: Units to account for: Total units to account for Total units accounted for: Total units accounted for Equivalent units of production (EUP)- FIFO method Units % Materials EUP- Materials % Conversion EUP- Conversion Total units Cost per equivalent unit of production Materials Conversion Total costs Costs Costs EUP EUP - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total costs accounted for: Beginning Inventory Cost: Cost to complete beginning inventory EUP Direct materials Cost per EUP Total cost Conversion Beginning Inventory Cost: Cost to complete beginning inventory EUP Cost per EUP Total cost Direct materials Conversion Total cost to complete beginning inventory Total cost of units in beginning inventory Cost of units started and completed EUP Cost per EUP Total cost Direct materials Conversion Total cost of units started and completed Total cost of units transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials Conversion Total cost of ending work in process Total costs accounted for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Anxiety Audit

Authors: Lynn Lyons

1st Edition

0757324258, 978-0757324253

More Books

Students also viewed these Accounting questions

Question

Define manufacturing overhead.

Answered: 1 week ago