Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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UPVOTE WILL BE GIVEN! INPUT THE COMPLETE SOLUTIONS. YOU MAY USE EXCEL. BOX THE FINAL ANSWERS.
a. Calculate the Equivalent Units of Production - Conversion Cost. =
b. Calculate for the total material cost per unit =
Transcribed Image Text:Pet Products Company uses an automated process to manufacture its pet replica products. For June,
the company had the following activities:
Beginning work in process inventory 4,500 items, 1/4 complete
Units placed in production
Units completed
Ending work in process inventory
Cost of beginning work in process
Direct material costs, current
Conversion costs, current
15,000 units
17,500 units
2,000 items, 3/4 complete
P5,250
P16,500
P23,945
The company uses FIFO Method
Direct materials are placed into production at the beginning of the process and conversion costs are
incurred evenly throughout the process.
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