Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the constructionIndustry). The following information is for the production of these trusses for the month of February.work-in-process inventory, February 1Direct materials: 100% completeConversion: 40% completeUnits started during FebruaryUnits completed during February and transferred outwork-in-process inventory, February 29Direct materials: 100% completeConversion: 20% completecosts incurred during FebruaryDirect materialsConversionRequiredUsing the FIFO method, calculate the following:4,100 trusses1-a. Cost per EU1-b. Cost of goods completed and transferred out1-c. Costs remaining in the VIP Inventory account2The weighted-average cost per equivalent unit$10,580$15,35818,100 trusses17,100 trusses1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.)1-b. Cost of goods completed and transferred out. (Do no round your intermediate calculations. Round your final answer to thenearest whole dollar)Direct Materials$59,140$92,1921-c. Costs remaining in the Work-in-Process Inventory account. (Do no round your Intermediate calculations. Round your finalanswer to the nearest whole dollar.)2. Assume that you are the company's controller. The production department's February equivalent unit cost is higher than expected. Ifthe manager of the first department asks you to do him a favor by increasing the ending Inventory completion percentage from 20 to40% to lower the unit costs, how much would unit cost be affected by this request? (Round your answer to 4 decimal places.)Conversionby

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Description: Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the constructionIndustry). The following information is for the production of these trusses for the month of February.work-in-process inventory, F

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Als Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction Industry). The following Information is for the production of these trusses for the month of February work-in-process inventory, February 1 Direct materials: 10et complete. Conversion: 40% complete Units started during February units completed during February and transferred out work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 20% complete costs incurred during February Direct materials Conversion Required Using the FIFO method, calculate the following: 4,100 trusses $10,500 $15,358 18,100 trusses 17,100 trusses $59,140 $92,192 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out. (Do no round your intermediate calculations. Round your final answer to the nearest whole doller.) 1-c. Costs remaining in the Work-in-Process Inventory account, (Do no round your Intermediate calculations. Round your final answer to the nearest whole doller.)

Als Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction Industry). The following Information is for the production of these trusses for the month of February work-in-process inventory, February 1 Direct materials: 10et complete. Conversion: 40% complete Units started during February units completed during February and transferred out work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 20% complete costs incurred during February Direct materials Conversion Required Using the FIFO method, calculate the following: 4,100 trusses $10,500 $15,358 18,100 trusses 17,100 trusses $59,140 $92,192 1-a. Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b. Cost of goods completed and transferred out. (Do no round your intermediate calculations. Round your final answer to the nearest whole doller.) 1-c. Costs remaining in the Work-in-Process Inventory account, (Do no round your Intermediate calculations. Round your final answer to the nearest whole doller.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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