Please do not give solution in image format thanku Unit reconciliationUnits to account forTotal units to account forUnits accounted forTotal units accounted forEquivalent units of production (EUP) - FIFO methodEquivalent Units of ProductionCost per EUP+ Equivalent units of productionCost assignmentBeginning work in processTo complete beginning work in processDirect materialsConversionStarted and completedDirect materialsConversionCompleted and transferred outEnding work in processDirect materialsConversionTotal costs accounted forUnitsEUPEUPEUPDirect Materials% AddedCost per EUPCost per EUPCost per EUPEUPDirect MaterialsTotal costTotal costTotal cost% AddedConversionEUPConversion Required information[The following information applies to the questions displayed below.]The following data reports on the July production activities of the Molding department at Ash Company.Beginning work in processDirect materials.ConversionCosts added this periodDirect materialsConversionTotal costs to account forBeginning work in process inventoryUnits started this periodCompleted and transferred outEnding work in process inventory$ 22,9502,600Units349,800175,7602,50033,000Prepare a production cost report using the FIFO method.Note: Round "Cost per EUP" to 2 decimal places.32,5003,000$ 25,550525,560$ 551,110DirectMaterialsPercentComplete100%100%ConversionPercentComplete20%60%

FIFO METHOD :— Under this method, equivalent units is calculated by adding equivalent units in…

Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 22,950 2,600 Units Prepare a production cost report using the FIFO method. Note: Round "Cost per EUP" to 2 decimal places. 349,800 175,760 2,500 33,000 32,500 3,000 $ 25,550 525,560 $ 551,110 Direct Materials. Percent Complete 100% 100% Conversion Percent Complete 20% 60%

Required information [The following information applies to the questions displayed below.] The following data reports on the July production activities of the Molding department at Ash Company. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion Total costs to account for Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory $ 22,950 2,600 Units Prepare a production cost report using the FIFO method. Note: Round "Cost per EUP" to 2 decimal places. 349,800 175,760 2,500 33,000 32,500 3,000 $ 25,550 525,560 $ 551,110 Direct Materials. Percent Complete 100% 100% Conversion Percent Complete 20% 60%

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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