Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) Conversion (55% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (95% completed) $ 122,650 77,100 $ 199,750 Conversion (55% completed) Cost incurred during July: Direct materials Conversion costs Cost per equivalent unit for conversion under the FIFO method is calculated to be: 92,500 106,750 24,250 $ 182,500 290,500
Data for July: Work-in-process inventory, July 1 (38,500 units): Direct materials (95% completed) Conversion (55% completed) Balance in work in process inventory, July 1 Units started during July Units completed and transferred Work-in-process inventory, July 31: Direct materials (95% completed) $ 122,650 77,100 $ 199,750 Conversion (55% completed) Cost incurred during July: Direct materials Conversion costs Cost per equivalent unit for conversion under the FIFO method is calculated to be: 92,500 106,750 24,250 $ 182,500 290,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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