A process manufacturer's first production department reports the following.Beginning work in process inventoryUnits started this periodConversionCosts added this period.Direct materialsConversionTotal costs to account forUnits80,000406,000384,000102,000Completed and transferred outEnding work in process inventoryThe first production department reports the cost information below.Beginning work in process inventoryDirect materials$184,4441,327,279885,242Cost per equivalent unit of production: FIFO methodDirectMaterials ConversionPercentComplete65%46,359 $ 230,803Equivalent units of productionCost per equivalent unit of production (rounded to 2 decimals)8582,212,521$ 2,443,324PercentComplete35%Compute the department's costs per equivalent unit of production for both direct materials and conversion.Note: Round "Cost per EUP" to 2 decimal places.358Direct Materials Conversion

Name: A process manufacturer's first production department reports the foll
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Description: A process manufacturer's first production department reports the following.Beginning work in process inventoryUnits started this periodConversionCosts added this period.Direct materialsConversionTotal costs to account forUnits80,000406,000384,000102

Equivalent units means where the some goods remain incomplete at the end of process and we need to…

Business

Accounting

A process manufacturer's first production department reports the following. Beginning work in process inventory Units started this period Conversion Costs added this period Direct materials Conversion Total costs to account for Units 80,000 406,000 384,000 102,000 Completed and transferred out Ending work in process inventory The first production department reports the cost information below. Beginning work in process inventory Direct materials $184,444 46,359 1,327,279 885,242 Cost per equivalent unit of production: FIFO method Direct Materials Conversion Percent Complete 65% Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) 85% $ 230,803 2,212,521 $ 2,443,324 Compute the department's costs per equivalent unit of production for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 359 Direct Materials 358 Conversion

A process manufacturer's first production department reports the following. Beginning work in process inventory Units started this period Conversion Costs added this period Direct materials Conversion Total costs to account for Units 80,000 406,000 384,000 102,000 Completed and transferred out Ending work in process inventory The first production department reports the cost information below. Beginning work in process inventory Direct materials $184,444 46,359 1,327,279 885,242 Cost per equivalent unit of production: FIFO method Direct Materials Conversion Percent Complete 65% Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) 85% $ 230,803 2,212,521 $ 2,443,324 Compute the department's costs per equivalent unit of production for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Percent Complete 359 Direct Materials 358 Conversion

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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