Ridgecrest Company manufactures plastic storage crates and has the following information available for the monthof April:Work in process, April 1(100% complete for materials, 40% for conversion)Direct materialsConversion costNumber of units startedApril costsDirect materialsConversion costWork in process, April 30(100% complete for materials, 20% for conversion)32,100 units$ 48,900$ 66,90095,700 units$ 136,500$ 202,50048,900 unitsE3-10 (Algo) FIFO Method [LO 3-4]Required:Using the FIFO method of process costing, complete each of the following steps:1. Reconcile the number of physical units worked on during the period.2. Calculate the number of equivalent units.3. Calculate the cost per equivalent unit.4. Reconcile the total cost of work in process.S

Name: Ridgecrest Company manufactures plastic storage crates and has the fo
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Description: Ridgecrest Company manufactures plastic storage crates and has the following information available for the monthof April:Work in process, April 1(100% complete for materials, 40% for conversion)Direct materialsConversion costNumber of units startedA

Equivalent units are those partial completed units that are used in process costing to calculate the…

Business

Accounting

Required: Using the FIFO method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process.

Required: Using the FIFO method of process costing, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process.

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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