Required information (The following information applies to the questions displayed below.] Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Direct Units Beginning work in process inventory Units started and completed 4,800 Materials Conversion Percent Percent Complete Complete 100% 40% 21,000 Units completed and transferred out 25,800 Ending work in process inventory 4,200 100% 80% Beginning work in process inventory Costs added this period $ 125,910 Direct materials Conversion Total costs to account for $ 335,160 1,397,412 1,732,572 $ 1,858,482 3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-FIFO Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost Direct materials Conversion Started and completed Direct materials Conversion EUP Cost per EUP Total cost $ 0 $ 0.00 Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 $ 0 Conversion $ 0.00 Total costs accounted for
Required information (The following information applies to the questions displayed below.] Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Direct Units Beginning work in process inventory Units started and completed 4,800 Materials Conversion Percent Percent Complete Complete 100% 40% 21,000 Units completed and transferred out 25,800 Ending work in process inventory 4,200 100% 80% Beginning work in process inventory Costs added this period $ 125,910 Direct materials Conversion Total costs to account for $ 335,160 1,397,412 1,732,572 $ 1,858,482 3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-FIFO Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost Direct materials Conversion Started and completed Direct materials Conversion EUP Cost per EUP Total cost $ 0 $ 0.00 Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 $ 0 Conversion $ 0.00 Total costs accounted for
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
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![Required information
(The following information applies to the questions displayed below.]
Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the
beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO
method of process costing. October data for the Roasting department follow.
Direct
Units
Beginning work in process inventory
Units started and completed
4,800
Materials Conversion
Percent Percent
Complete Complete
100%
40%
21,000
Units completed and transferred out
25,800
Ending work in process inventory
4,200
100%
80%
Beginning work in process inventory
Costs added this period
$ 125,910
Direct materials
Conversion
Total costs to account for
$ 335,160
1,397,412
1,732,572
$ 1,858,482
3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at
period-end.
Note: Round "Cost per EUP" to 2 decimal places.
Cost assignment-FIFO
Beginning work in process
To complete beginning work in process
EUP
Cost per EUP
Total cost
Direct materials
Conversion
Started and completed
Direct materials
Conversion
EUP
Cost per EUP
Total cost
$
0
$
0.00
Completed and transferred out
Ending work in process
EUP
Cost per EUP
Total cost
Direct materials
$
0.00
$
0
Conversion
$
0.00
Total costs accounted for](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F17cd18a7-0eb3-4b70-8499-7019f4ec3e41%2Fee418e9d-b650-4bf7-adca-4f7434632ad2%2F2bnizv_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
(The following information applies to the questions displayed below.]
Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the
beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO
method of process costing. October data for the Roasting department follow.
Direct
Units
Beginning work in process inventory
Units started and completed
4,800
Materials Conversion
Percent Percent
Complete Complete
100%
40%
21,000
Units completed and transferred out
25,800
Ending work in process inventory
4,200
100%
80%
Beginning work in process inventory
Costs added this period
$ 125,910
Direct materials
Conversion
Total costs to account for
$ 335,160
1,397,412
1,732,572
$ 1,858,482
3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at
period-end.
Note: Round "Cost per EUP" to 2 decimal places.
Cost assignment-FIFO
Beginning work in process
To complete beginning work in process
EUP
Cost per EUP
Total cost
Direct materials
Conversion
Started and completed
Direct materials
Conversion
EUP
Cost per EUP
Total cost
$
0
$
0.00
Completed and transferred out
Ending work in process
EUP
Cost per EUP
Total cost
Direct materials
$
0.00
$
0
Conversion
$
0.00
Total costs accounted for
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