please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Cost of Units Transferred Out and Ending Work in ProcessThe costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.45 and $0.70, respectively. The equivalentunits to be assigned costs are as follows:Equivalent UnitsDirect Materials Conversion2,80070,00072,8001,600Inventory in process, beginning of periodiStarted and completed during the periodTransferred out of Filling (completed)Inventory in process, end of periodTotal units to be assigned costsThe beginning work in process inventory had a cost of $1,900. Determine the cost of completed and transferred-out production and the ending work in process inventory.If required, round to the nearest dollar.Completed and transferred out of productionInventory in process, ending070,00070,0004,00074,00074,400

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Description: please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Cost of Units Transferred Out and Ending

FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…

Business

Accounting

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.45 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Completed and transferred out of production Inventory in process, ending Inventory in process, beginning of periodi Started and completed during the period Transferred out of Filling (completed) Inventory in process, end of period Total units to be assigned costs The beginning work in process inventory had a cost of $1,900. Determine the cost of completed and transferred-out production and the ending work in process inventory If required, round to the nearest dollar. 0 Conversion 2,800 70,000 72,800 1,600 74,400 70,000 70,000 4,000 74,000

Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct materials and conversion in the Filling Department of Ivy Cosmetics Company are $0.45 and $0.70, respectively. The equivalent units to be assigned costs are as follows: Equivalent Units Direct Materials Completed and transferred out of production Inventory in process, ending Inventory in process, beginning of periodi Started and completed during the period Transferred out of Filling (completed) Inventory in process, end of period Total units to be assigned costs The beginning work in process inventory had a cost of $1,900. Determine the cost of completed and transferred-out production and the ending work in process inventory If required, round to the nearest dollar. 0 Conversion 2,800 70,000 72,800 1,600 74,400 70,000 70,000 4,000 74,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 6BE: The costs per equivalent unit of direct materials and conversion in the Rolling Department of Kraus...

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