Percent Complete Units Materials 100% 100% Conversion Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May 71,000 51,000 30% 20% $ 56,700 $ 16,800 260,600 280,600 $ 125,680 $ 242,012 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Percent Complete Units Materials 100% 100% Conversion Work in process inventory, May 1 Work in process inventory, May 31 Materials cost in work in process inventory, May 1 Conversion cost in work in process inventory, May 1 Units started into production Units transferred to the next production department Materials cost added during May Conversion cost added during May 71,000 51,000 30% 20% $ 56,700 $ 16,800 260,600 280,600 $ 125,680 $ 242,012 Required: 1. Calculate the first production department's equivalent units of production for materials and conversion for May. 2. Compute the first production department's cost per equivalent unit for materials and conversion for May. 3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Name: ChePercent CompleteMaterialsUnits71,00051,000Work in process inventor
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Description: ChePercent CompleteMaterialsUnits71,00051,000Work in process inventory, May 1Work in process inventory, May 31Materials cost in work in process inventory, May 1Conversion cost in work in process inventory, May 1Units started into productionUnits tra

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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