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
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

Please do not give solution in image format thanku 

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
Expert Solution
steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education