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I just want to ask how did the 100%, 70% and 45% get? Can you please provide me a solution and explanation if possible? Thanks

I just want to ask how did the 100%, 70% and 45% get? Can you please provide me a solution and explanation if possible? Thanks

FINANCIAL ACCOUNTING
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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I just want to ask how did the 100%, 70% and 45% get? Can you please provide me a solution and explanation if possible? Thanks

LO.2 & LO.3 (Cost per WA & FIFO EUP) Pylanic Mfg. produces concrete garden border sections. All materials are added at the beginning of processing. Production and cost information for May 2010 are as follows: WA EUP Direct material Direct labor Overhead 160,000 sections 152,000 sections 150,000 sections FIFO EUP Downloaded by mawi ludwi (sonaskfew@f5.si) Direct material Direct labor Overhead 120,000 sections 124,000 sections 132,000 sections Beginning WIP Inventory costs Direct material $19,600 6,320 10,020 Direct labor Overhead Current period costs Direct material Direct labor Overhead $54,000 34,720 84,480 a. What is the total cost to account for? b. Using weighted average process costing, what is the cost per equivalent unit for each cost component? c. Using FIFO process costing, what is the cost per equivalent unit for each cost component? d. How many units were in beginning. 26. a. DM $ 19,600 54,000 $ 73.600 DL $ 6,320 34,720 $41.040 OH $ 10,020 84,480 $ 94.500 Total $ 35,940 173,200 $209,140 Beginning WIP Current period Total b. Total costs WA EUP $ 73,600 + 160,000 $0.46 $ 41,040 + 152,000 $0.27 $ 94,500 + 150,000 $0.63 $209.140 Cost per EUP $1.36 c. Current costs FIFO EUP $ 54,000 ► 120,000 S0.45 $ 34,720 + 124,000 $0.28 $ 84,480 + 132,000 $0.64 $173,200 Cost per EUP $1.37 d. WA EUP FIFO EUP Beg. WIP EUP 160,000 120,000 40,000 152,000 124,000 28,000 150,000 132,000 18,000 Percent complete 100% 70% 45%
Transcribed Image Text:LO.2 & LO.3 (Cost per WA & FIFO EUP) Pylanic Mfg. produces concrete garden border sections. All materials are added at the beginning of processing. Production and cost information for May 2010 are as follows: WA EUP Direct material Direct labor Overhead 160,000 sections 152,000 sections 150,000 sections FIFO EUP Downloaded by mawi ludwi (sonaskfew@f5.si) Direct material Direct labor Overhead 120,000 sections 124,000 sections 132,000 sections Beginning WIP Inventory costs Direct material $19,600 6,320 10,020 Direct labor Overhead Current period costs Direct material Direct labor Overhead $54,000 34,720 84,480 a. What is the total cost to account for? b. Using weighted average process costing, what is the cost per equivalent unit for each cost component? c. Using FIFO process costing, what is the cost per equivalent unit for each cost component? d. How many units were in beginning. 26. a. DM $ 19,600 54,000 $ 73.600 DL $ 6,320 34,720 $41.040 OH $ 10,020 84,480 $ 94.500 Total $ 35,940 173,200 $209,140 Beginning WIP Current period Total b. Total costs WA EUP $ 73,600 + 160,000 $0.46 $ 41,040 + 152,000 $0.27 $ 94,500 + 150,000 $0.63 $209.140 Cost per EUP $1.36 c. Current costs FIFO EUP $ 54,000 ► 120,000 S0.45 $ 34,720 + 124,000 $0.28 $ 84,480 + 132,000 $0.64 $173,200 Cost per EUP $1.37 d. WA EUP FIFO EUP Beg. WIP EUP 160,000 120,000 40,000 152,000 124,000 28,000 150,000 132,000 18,000 Percent complete 100% 70% 45%
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