eginning Work-in-Process is 4,300 units; 48,600 units completed, and ending Work-in-Process is 3,850 units, which are 100% complete for direct materials and 50% complete for conversion costs. The beginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion. What are the equivalent units for materials and conversion using the FIFO method?

eginning Work-in-Process is 4,300 units; 48,600 units completed, and ending Work-in-Process is 3,850 units, which are 100% complete for direct materials and 50% complete for conversion costs. The beginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion. What are the equivalent units for materials and conversion using the FIFO method?

Name: Keep in mind this is just the FIFO method; I already figured out the W
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Description: Keep in mind this is just the FIFO method; I already figured out the Weighted average method. Beginning Work-in-Process is 4,300 units; 48,600 units completed, and ending Work-in-Process is 3,850 units, which are 100% complete for direct materials an

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 11EA: Mazomanie Farm completed 20,000 units during the quarter and has 2,500 units still in process. The...

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Beginning Work-in-Process is 3,350 units; 66,600 units completed, and ending Work-in-Process is 5,450 units, which are 100% complete for direct materials and 50% complete for conversion costs. The beginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion. Required: 1. What are the equivalent units for materials and conversion using the weighted-average method? 2. What are the equivalent units for materials and conversion using the FIFO method?
Beginning Work-in-Process is 2,000 units; 44,000 units completed, and ending Work-in-Process is3,000 units, which are 100% complete for direct materials and 50% complete for conversion costs. Thebeginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion.Required1. What are the equivalent units for materials and conversion using the weighted-average method2. What are the equivalent units for materials and conversion using the FIFO method?
Sunland Company uses the FIFO method to compute equivalent units. It has 4500 units in beginning work in process, 20% complete as to conversion costs and 50% complete as to materials costs, 65500 units started, and 5900 units in ending work in process, 30% complete as to conversion costs, and 80% complete as to materials cost. How much are the equivalent units for materials under the FIFO method? 65500 70000 O66570 O68650
(USE WEIGHTED AVERAGE METHOD)Direct materials are added at the beginning of the process and conversions costs are uniformly applied. Otherdetails include:WIP beginning (50% for conversion) 28,400 unitsUnits started 124,000 unitsUnits completed and transferred out 107,000 unitsWIP ending (50% for conversion) 45,400 unitsBeginning WIP direct materials $53,200Beginning WIP conversion costs $19,600Costs of materials added $442,100Costs of conversion added $304,650Required:d. What is the cost per equivalent unit for conversion costs?e. What is the total cost of units completed and transferred out?f. What is the total cost of units remaining in ending WIP?
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Jackson Company has the following information for the current period for the Mixing Department: Costs of beginning work-in-process: Direct materials Conversion costs Costs added during the period: Direct materials Conversion costs Equivalent units of production for: Direct materials Conversion costs $15,000 26,000 100,000 150,000 12,600 units 9,100 units Using the weighted-average method, what is the cost per equivalent unit for conversion costs? A.$ 3.25 B.$ 9.13 C.$ 19.84 D.S 19.34
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