Dengo Company 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 Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units Cost per equivalent unit of production Costs added this period + Equivalent units of production Cost per equivalent unit of production 4,300 20,500 24,800 3,700 $ 309,760 1,382,724 Materials 309,760 Direct Materials Percent Complete 100% 0 100% 2. Compute cost per equivalent unit of production for both direct materials and conversion. Conversion Percent Complete 40% $ 124,510 1,692,484 $ 1,816,994 Conversion 1,692,484 80% 0

Dengo Company 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 Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units Cost per equivalent unit of production Costs added this period + Equivalent units of production Cost per equivalent unit of production 4,300 20,500 24,800 3,700 $ 309,760 1,382,724 Materials 309,760 Direct Materials Percent Complete 100% 0 100% 2. Compute cost per equivalent unit of production for both direct materials and conversion. Conversion Percent Complete 40% $ 124,510 1,692,484 $ 1,816,994 Conversion 1,692,484 80% 0

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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