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?

Q: Delores Enterprises uses weighted-average process-costing to value production. At the end of the…

A: Cost of work-in-process inventory = Equivalent cost per unit x No. of units where, Equivalent cost…

Q: Direct materials are added at the beginning of the process and conversions costs are uniformly…

A: Equivalent Units: Equivalent units are used to express the amount of work that has been completed on…

Q: Mazomanie Farm completed 19,000 units during the quarter and has 2,500 units still in process. The…

A: Equivalent Units = (No. of units completed  x 100%) + (Units in ending work in process x %…

Q: The Filling Department of Eve Cosmetics Company had 6,000 ounces in beginning work in process…

A: Equivalent units for conversion cost: It is the cost incurred per unit in the conversion process.…

Q: The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is…

A: Direct Material Cost per Equivalent Unit = Total Direct Material Cost / Equivalent Units…

Q: QC company makes product Z. The company began July with 500 units in process that were 100% complete…

A:

Q: For Sablan Corp, materials are added at the start of the process in Department B. Units received…

A: When we identify normal loss at the end of the production process, the cost of loss units is charged…

Q: The following information is available for Department A:…

A: In First In First Out (FIFO) method, the beginning inventory in progress is completed first.

Q: For Attarsik Corp, materials are added at the start of the process in Department B. Units received…

A: The work in process cost includes only the goods that are not complete. The normal loss is adjusted…

Q: Sunland Company uses the FIFO method to compute equivalent units. It has 4500 units in beginning…

A: > Given data:> opening Inventroy = 4500> Closing units = 5900

Q: The Converting Department of Worley Company had 1,080 units in work in process at the beginning of…

A: Particulars Whole Units Direct Materials Conversion Working Equivalent Units Equivalent Units…

Q: I want to correct answer

A: Detailed explanation:Approach to Tackling the QuestionWhen approaching an issue like finding…

Q: Equivalent Units of Production The Converting Department of Worley Company had 720 units in work in…

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

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

A: EQUIVALENT UNITS OF PRODUCTION Equivalent Production is represents the production of a process in…

Q: Waterway’s Manufacturing has 7400 units in beginning Work in Process inventory, 15% complete related…

A: The equivalent units are calculated on the basis of percentage of work completed during the period.

Q: Using the following terms, prepare the worksheet to show the calculation to answer the question:…

A: Total cost per unit = Materials cost per unit + Conversion cost per unit    Total ending work in…

Q: Department W had 2,220 units, one-third completed at the beginning of the period. There were 13,900…

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling…

A: Equivalent unit for direct material = Units started and completed + Ending work in process for…

Q: I'm specifically having trouble figuring out what is beginning WIP for direct materials and…

A: FIFO: The prices at which the earliest lots/consignments of materials were received are used first…

Q: At Onyx Incorporated, direct materials are added at the beginning of the process and conversions…

A: The equivalent units are calculated based on the percentage of the work completed during the period.…

Q: The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling…

A: Given, Beginning work in process = 2,7040 litres Units completed = 60,570 litres Ending work in…

Q: The cost of direct materials transferred into the Rolling Department of Kraus Company is $3,087,000.…

A: In order to determine the direct material cost per equivalent units, the total cost of direct…

Q: Cullumber Company completes and transfers out 15,360 units and has 2,560 units of ending work in…

A: EQUIVALENT UNITS OF PRODUCTION Equivalent Production  represents the production of a process in…

Q: (USE FIRST IN FIRST OUT METHOD) Direct materials are added at the beginning of the process and…

A: Solution:- d)Calculation of  the cost per equivalent unit for conversion costs as follows under:-…

Q: The cost of direct materials transferred into the Rolling Department of Jabari Company is…

A: Answer:- Direct materials meaning:- The term "direct materials" describes components or raw…

Q: At Sunrise Corporation, direct materials are added at the beginning of the process and conversions…

A: Equivalent units represent the partially completed units in a production process, expressed in terms…

Q: Assume that 12,000 units were on hand at the beginning of the period, 50,000 units were started…

A: EQUIVALENT UNITS OF PRODUCTION  Equivalent Production is represents the production of a process in…

Q: a company uses process costing, weighted-average method in its production. if the equivalent units…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: The cost of direct materials transferred into the Filling Department of Ivy Cosmetics Company is…

A: Direct Material Cost - It is the cost incurred by the company on the direct materials transferred…

Q: Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department…

A: No. of units started and completed= No. of units completed - Beginning WIP = 61450-3740 = 57710…

Q: The Filling Department of Eve Cosmetics Company had 3,600 ounces in beginning work in process…

A: Calculation: Total equivalent units=(3,600×10%)+59,700+(3,000×10%)=360+59,700+300=60,360 ounces

Q: Direct materials cost per equivalent unit: Conversion cost per equivalent unit: 00 per ton per ton

A: Solution:- Calculation of Direct materials cost per equivalent units and Conversion cost per…

Q: Direct materials are added at the beginning of the process and conversions costs are uniformly…

A: Solution: Under FIFO method of process costing, it is assumed that unit from beginning WIP will be…

Q: Cost of Units Transferred Out and Ending Work in Process The costs per equivalent unit of direct…

A: Equivalent Units: These are semi completed units which were expressed as fully completed units.

Q: Gannon Company uses the FIFO method to compute equivalent units. It has 4,000 units in beginning…

A: Formula: Beginning completed units = Beginning work in process x ( 100 - 20 % )

Q: Required: a.) Compute for the total cost of units transferred to finished goods assuming that the…

A: Inventory: Inventory refers to the current assets of the company that records the amount of goods…

Q: direct material cost per equivalent unit is a1.10 and there are 2,000 physical units 100% complete…

A: First, we need to calculate the total direct material cost. The direct material cost per equivalent…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.