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Question 31 Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning WIP Started in production Completed production Ending WIP 19,800 units 103,800 94,200 29,400 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of April are as follows: Beginning inventory costs are: Materials Direct labour Factory overhead Costs incurred during April include: Materials Direct labour Factory overhead Total equivalent units $63,100 21,300 15,300 $581,280 194,200 403,208 Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs

Question 31 Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning WIP Started in production Completed production Ending WIP 19,800 units 103,800 94,200 29,400 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of April are as follows: Beginning inventory costs are: Materials Direct labour Factory overhead Costs incurred during April include: Materials Direct labour Factory overhead Total equivalent units $63,100 21,300 15,300 $581,280 194,200 403,208 Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs

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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Question 31 Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning WIP Started in production Completed production Ending WIP 19,800 units 103,800 94,200 29,400 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of April are as follows: Beginning inventory costs are: Materials Direct labour Factory overhead Costs incurred during April include: Materials Direct labour Factory overhead Total equivalent units $63,100 21,300 15,300 $581,280 194,200 403,208 Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs
Transcribed Image Text:Question 31 Montreal Manufacturing Inc. has the following cost and production data for the month of April. Beginning WIP Started in production Completed production Ending WIP 19,800 units 103,800 94,200 29,400 The beginning inventory was 60% complete for conversion costs. The ending inventory was 40% complete for conversion costs. Materials are added at the beginning of the process. Costs pertaining to the month of April are as follows: Beginning inventory costs are: Materials Direct labour Factory overhead Costs incurred during April include: Materials Direct labour Factory overhead Total equivalent units $63,100 21,300 15,300 $581,280 194,200 403,208 Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs
Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs Total equivalent units Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.) Materials Conversion costs Total $ Unit costs Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.) Total Beginning Inventory Complete beginning WIP Started and completed Beginning Inventory Complete beginning WIP Started and completed Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.) Total Cost for units transferred out Total costs Ending work in process $ Materials $ Conversion Materials Conversion
Transcribed Image Text:Calculate the equivalent units of production for materials and conversion costs for the month of April using the first-in, first-out (FIFO) method. Materials Conversion costs Total equivalent units Calculate the unit costs for the month. (Round unit cost to 3 decimal places, e.g. 15.256.) Materials Conversion costs Total $ Unit costs Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.) Total Beginning Inventory Complete beginning WIP Started and completed Beginning Inventory Complete beginning WIP Started and completed Determine the costs to be assigned to the units transferred out and in ending work in process. (Round answers to 0 decimal places, e.g. 5,275.) Total Cost for units transferred out Total costs Ending work in process $ Materials $ Conversion Materials Conversion
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