Chapter 9: A Closer look on Cost AccountingChapter 9: A Closer look on Cost Accounting45. The EUP is 57,000 units. The beginning inventory units were 5,000 units,40% incomplete while the ending inventory is 10,000 units, 80%incomplete. What is the total number of units completed and transferredusing Weighted Average method?а. 58,000b. 54,000с. 55,000d. 47,000Using Weighted Average method, what is the total number of units startedin processа. 58,000b. 60,000c. 57,000d. 63,000Using FIFO method, what are the total number units completed andtransferred?a. 52,000b. 58,000с. 55,000d. 47,000Using FIFO the total number of units started in process is:а. 63,000b. 68,000с. 60,000d. 57,000

FIFO means the first in first in which the degree of opening work in progress will be considered and…

Chapter 9: A Closer look on Cost Accounting 15. The EUP is 57,000 units. The beginning inventory units were 5,000 units, 40% incomplete while the ending inventory is 10,000 units, 80% incomplete. What is the total number of units completed and transferred using Weighted Average method? a. 58,000 b. 54,000 c. 55,000 d. 47,000 Using Weighted Average method, what is the total number of units started in process a. 58,000 b. 60,000 c. 57,000 d. 63,000 Using FIFO method, what are the total number units completed and transferred? a. 52,000 b. 58,000 c. 55,000 d. 47,000

Chapter 9: A Closer look on Cost Accounting 15. The EUP is 57,000 units. The beginning inventory units were 5,000 units, 40% incomplete while the ending inventory is 10,000 units, 80% incomplete. What is the total number of units completed and transferred using Weighted Average method? a. 58,000 b. 54,000 c. 55,000 d. 47,000 Using Weighted Average method, what is the total number of units started in process a. 58,000 b. 60,000 c. 57,000 d. 63,000 Using FIFO method, what are the total number units completed and transferred? a. 52,000 b. 58,000 c. 55,000 d. 47,000

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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Question

Chapter 9: A Closer look on Cost Accounting
Chapter 9: A Closer look on Cost Accounting
45. The EUP is 57,000 units. The beginning inventory units were 5,000 units,
40% incomplete while the ending inventory is 10,000 units, 80%
incomplete. What is the total number of units completed and transferred
using Weighted Average method?
а. 58,000
b. 54,000
с. 55,000
d. 47,000
Using Weighted Average method, what is the total number of units started
in process
а. 58,000
b. 60,000
c. 57,000
d. 63,000
Using FIFO method, what are the total number units completed and
transferred?
a. 52,000
b. 58,000
с. 55,000
d. 47,000
Using FIFO the total number of units started in process is:
а. 63,000
b. 68,000
с. 60,000
d. 57,000

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in the solution of subpart 3,

Total number of units completed and transferred under FIFO = 5,000 +53,000
why is it 5,000?

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Compute the total costs of the units (gallons) (a) completed and transferred out to the Packaging Department, and (b) in the Department ending Work-in-Process Inventory. Complete the Production Cost Report that you began in Requirement 1 by calculating the costs per equivalent unit in this step, and then by calculating the the total cost of units completed and transferred out and of units in ending inventory in the following step. (Complete all input fields. Enter a "0" for any zero balances. Round the cost per equivalent unit amounts to the nearest cent and all other amounts to the nearest dollar. Abbreviation used: EUP = equivalent units of production.)
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