Conlon Chemical manufactures paint thinner. Information on the work in process follows: • • - Beginning inventory, 30,000 partially complete gallons. - Transferred out, 157, 500 gallons. Ending inventory (materials are 10 percent complete conversion costs are 20 percent complete). - Started this month, 180,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 30 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO
Conlon Chemical manufactures paint thinner. Information on the work in process follows: • • - Beginning inventory, 30,000 partially complete gallons. - Transferred out, 157, 500 gallons. Ending inventory (materials are 10 percent complete conversion costs are 20 percent complete). - Started this month, 180,000 gallons. Assume that beginning inventory is 50 percent complete with respect to materials and 30 percent complete with respect to conversion costs. Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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