BASE DATA: UNITS: Beginning WIP Inventory (20% complete as to CC) 5,000 Units started 20,000 Units completed and transferred out 15,000 Ending WIP Inventory (Mat 100 %, CC 50 % complete) 10,000 Costs: Beginning inventory: Materials $ 4,000 CC $ 1,000 Current period: Materials $ 16,000 CC $ 4,000 All materials are added at the beginning of the process WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? Materials EUP CC EUP Record your answers here What is your Product's Equivalent units (EUP) for Mat & CC using FIFO? Materials EUP CC EUP Record your answers here What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? Materials Cost per EUP CC Cost per EUP Record your answers here What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using FIFO? Materials Cost per EUP CC Cost per EUP Record your answers here What is your Product's Cost of ending WIP inventory using Weighted Average? End MAT cost in WIP End CC cost in WIP Record your answers here What is your Product's Cost of ending WIP inventory using FIFO? End MAT cost in WIP End CC cost in WIP Record your answers here Check Figures: Weighted Average FIFO Your product's total cost (Mat AND CC) per equivalent unit is: $ 1.05 $ 1.01 (rounded)
BASE DATA: UNITS: Beginning WIP Inventory (20% complete as to CC) 5,000 Units started 20,000 Units completed and transferred out 15,000 Ending WIP Inventory (Mat 100 %, CC 50 % complete) 10,000 Costs: Beginning inventory: Materials $ 4,000 CC $ 1,000 Current period: Materials $ 16,000 CC $ 4,000 All materials are added at the beginning of the process WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? Materials EUP CC EUP Record your answers here What is your Product's Equivalent units (EUP) for Mat & CC using FIFO? Materials EUP CC EUP Record your answers here What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? Materials Cost per EUP CC Cost per EUP Record your answers here What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using FIFO? Materials Cost per EUP CC Cost per EUP Record your answers here What is your Product's Cost of ending WIP inventory using Weighted Average? End MAT cost in WIP End CC cost in WIP Record your answers here What is your Product's Cost of ending WIP inventory using FIFO? End MAT cost in WIP End CC cost in WIP Record your answers here Check Figures: Weighted Average FIFO Your product's total cost (Mat AND CC) per equivalent unit is: $ 1.05 $ 1.01 (rounded)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Topic Video
Question
| BASE DATA: | |||||
| UNITS: | |||||
| Beginning WIP Inventory (20% complete as to CC) | 5,000 | ||||
| Units started | 20,000 | ||||
| Units completed and transferred out | 15,000 | ||||
| Ending WIP Inventory (Mat 100 %, CC 50 % complete) | 10,000 | ||||
| Costs: | |||||
| Beginning inventory: | |||||
| Materials | $ 4,000 | ||||
| CC | $ 1,000 | ||||
| Current period: | |||||
| Materials | $ 16,000 | ||||
| CC | $ 4,000 | ||||
| All materials are added at the beginning of the process | |||||
| WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: | |||||
| What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? | Materials EUP | CC EUP | |||
|
|||||
| What is your Product's Equivalent units (EUP) for Mat & CC using FIFO? | Materials EUP | CC EUP | |||
|
|||||
| What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? | Materials Cost per EUP | CC Cost per EUP | |||
|
|||||
| What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using FIFO? | Materials Cost per EUP | CC Cost per EUP | |||
|
|||||
| What is your Product's Cost of ending WIP inventory using Weighted Average? | End MAT cost in WIP | End CC cost in WIP | |||
|
|||||
| What is your Product's Cost of ending WIP inventory using FIFO? | End MAT cost in WIP | End CC cost in WIP | |||
|
|||||
| Check Figures: | |||||
| Weighted Average | FIFO | ||||
| Your product's total cost (Mat AND CC) per equivalent unit is: | $ 1.05 | $ 1.01 | (rounded) |
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