Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 72,000 382,000 360,000 94,000 The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period i Direct materials Conversion Total costs to account for $167.920 38.028 1,115,920 777-192 Direct Materials Percent Complete 70% BOS $ 205,948 1.493.132 $2,099,050 Conversion Percent Complete 30% 30% (a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department. (Round "Cost per EUP" to 2 decimal places.) (b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Use the FIFO method. (Round "Cost per EUP" to 2 decimal places.)

Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 72,000 382,000 360,000 94,000 The production department had the cost information below. Beginning work in process inventory Direct materials Conversion Costs added this period i Direct materials Conversion Total costs to account for $167.920 38.028 1,115,920 777-192 Direct Materials Percent Complete 70% BOS $ 205,948 1.493.132 $2,099,050 Conversion Percent Complete 30% 30% (a) Calculate the costs per equivalent unit of production for both direct materials and conversion for the department. (Round "Cost per EUP" to 2 decimal places.) (b) Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Use the FIFO method. (Round "Cost per EUP" to 2 decimal places.)

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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