Dengo Co. makes a trail mix in two departments: Roasting and Blending. Direct materials are added at thebeginning of each process, and conversion costs are added evenly throughout each process. The companyuses the FIFO method of process costing. October data for the Roasting department follow.Beginning work in process inventory..Units started and completed...Units completed and transferred out...Ending work in process inventory....[continued on next page]Units3,00019,20022,2002,400[continued from previous page]RequiredDirect MaterialsPercent Complete100%100%Chapter 16 Process Costing and AnalysisConversionPercent Complete40%80%Problem 16-7AªFIFO: Cost per equivalentunit; costs assigned toproducts C2Beginning work in process..Costs added this periodDirect materials.Conversion.......Total costs to account for...$248,4001,082,970$ 120,8701,331,370$1,452,2401. Compute equivalent units of production for both direct materials and conversion.2. Compute cost per equivalent unit of production for both direct materials and conversion.3. Assign costs to the department's output-specifically, to the units transferred out and to the units thatremain in work in process at period-end.

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Dengo Co. makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory.. Units started and completed...... Units completed and transferred out... Ending work in process inventory.... Direct Materials Units Percent Complete 100% 3,000 19,200 22,200 2,400 100% Conversion Percent Complete 40% 80% Problem 16-7A FIFO: Cost per equivalent unit; costs assigned to products C2 Beginning work in process.. Costs added this period Direct materials....... $ 248,400 1,082.970 Conversion....... Total costs to account for... $ 120.870 1,331,370 $1,452.240

Dengo Co. makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory.. Units started and completed...... Units completed and transferred out... Ending work in process inventory.... Direct Materials Units Percent Complete 100% 3,000 19,200 22,200 2,400 100% Conversion Percent Complete 40% 80% Problem 16-7A FIFO: Cost per equivalent unit; costs assigned to products C2 Beginning work in process.. Costs added this period Direct materials....... $ 248,400 1,082.970 Conversion....... Total costs to account for... $ 120.870 1,331,370 $1,452.240

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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