Beginning work in process (30 % complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs Required: 1. Using FIFO method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Beginning Inventory Started and Completed Ending Inventory Total Using FIFO method of process costing, calculate the number of equivalent units. Equivalent Units Req 1D Physical Units 0 Direct Materials Units 127,800 233,000 333,800 ? Conversion 0 Costs $ 182,000 334,000 $ 516,000 $ 497,400 638,000 1,135,400

Beginning work in process (30 % complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (65% complete) Current period costs Direct materials Conversion cost Total current period costs Required: 1. Using FIFO method of process costing, complete each of the following steps: a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Beginning Inventory Started and Completed Ending Inventory Total Using FIFO method of process costing, calculate the number of equivalent units. Equivalent Units Req 1D Physical Units 0 Direct Materials Units 127,800 233,000 333,800 ? Conversion 0 Costs $ 182,000 334,000 $ 516,000 $ 497,400 638,000 1,135,400

Name: Beginning work in process (30% complete)Direct materialsConversion co
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Beginning work in process (30% complete)Direct materialsConversion costTotal cost of beginning work in processNumber of units startedNumber of units completed and transferred to finished goodsEnding work in process (65% complete)Current period costs

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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