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Carbata Company manufactures low-cost, basic tool kits in bulk. Below is the latest information for last month's production.   Units Materials Cost Conversion Cost Inventory on September 1 950 $ 5,550 $ 2,354 % Complete   60% 30% Units Started 3,150     Costs Added in September   $ 28,940 $ 8,156 Inventory on September 30 1,200     % Complete   80% 60% Required: Use the information above to complete a Process Costing Production Report under the FIFO Assumption. Beginning Inventory:? Units Started? Units to Account for:?   Ending Inventory? Units Completed and Transferred? Units to Account for?   Step 2: Compute the Equivalent Units of Production.     Beginning Inventory? % Complete? % to Complete? Equivalent Units?   Units Completed and Transferred? Beginning Inventory? Units Started and Completed? % Complete? Equivalent Units?   Ending Inventory? % Complete? Equivalent Units?   Total Equivalent Units of Production?   Step 3:  Compute the Cost per Equivalent Unit of Production     Beginning Inventory Cost? Costs Added? Total Cost to Account for?   Total Equivalent Units of Production? Cost Per Equivalent Unit? Total Cost per Equivalent Unit?   Step 4:  Reconciling Costs.     Beginning Inventory Cost? Costs Added? Total Cost to Account For?   Cost of Beginning Inventory from Last Month? Cost of Beginning Inventory Completed in September? Cost of Units Started and Completed? Cost of Units in Ending Inventory? Total Cost to Account for?

Carbata Company manufactures low-cost, basic tool kits in bulk. Below is the latest information for last month's production.   Units Materials Cost Conversion Cost Inventory on September 1 950 $ 5,550 $ 2,354 % Complete   60% 30% Units Started 3,150     Costs Added in September   $ 28,940 $ 8,156 Inventory on September 30 1,200     % Complete   80% 60% Required: Use the information above to complete a Process Costing Production Report under the FIFO Assumption. Beginning Inventory:? Units Started? Units to Account for:?   Ending Inventory? Units Completed and Transferred? Units to Account for?   Step 2: Compute the Equivalent Units of Production.     Beginning Inventory? % Complete? % to Complete? Equivalent Units?   Units Completed and Transferred? Beginning Inventory? Units Started and Completed? % Complete? Equivalent Units?   Ending Inventory? % Complete? Equivalent Units?   Total Equivalent Units of Production?   Step 3:  Compute the Cost per Equivalent Unit of Production     Beginning Inventory Cost? Costs Added? Total Cost to Account for?   Total Equivalent Units of Production? Cost Per Equivalent Unit? Total Cost per Equivalent Unit?   Step 4:  Reconciling Costs.     Beginning Inventory Cost? Costs Added? Total Cost to Account For?   Cost of Beginning Inventory from Last Month? Cost of Beginning Inventory Completed in September? Cost of Units Started and Completed? Cost of Units in Ending Inventory? Total Cost to Account for?

FINANCIAL ACCOUNTING
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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Carbata Company manufactures low-cost, basic tool kits in bulk. Below is the latest information for last month's production.

  Units Materials Cost Conversion Cost
Inventory on September 1 950 $ 5,550 $ 2,354
% Complete   60% 30%
Units Started 3,150    
Costs Added in September   $ 28,940 $ 8,156
Inventory on September 30 1,200    
% Complete   80% 60%

Required:

Use the information above to complete a Process Costing Production Report under the FIFO Assumption.

Beginning Inventory:?
Units Started?
Units to Account for:?
 
Ending Inventory?
Units Completed and Transferred?
Units to Account for?
 
Step 2: Compute the Equivalent Units of Production.
 
 
Beginning Inventory?
% Complete?
% to Complete?
Equivalent Units?
 
Units Completed and Transferred?
Beginning Inventory?
Units Started and Completed?
% Complete?
Equivalent Units?
 
Ending Inventory?
% Complete?
Equivalent Units?
 
Total Equivalent Units of Production?
 
Step 3:  Compute the Cost per Equivalent Unit of Production
 
 
Beginning Inventory Cost?
Costs Added?
Total Cost to Account for?
 
Total Equivalent Units of Production?
Cost Per Equivalent Unit?
Total Cost per Equivalent Unit?
 
Step 4:  Reconciling Costs.
 
 
Beginning Inventory Cost?
Costs Added?
Total Cost to Account For?
 
Cost of Beginning Inventory from Last Month?
Cost of Beginning Inventory Completed in September?
Cost of Units Started and Completed?
Cost of Units in Ending Inventory?
Total Cost to Account for?
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