Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical unita 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials 100% 100% 100% Conversion 40% 100% 201 Direct Materials Conversion Total $ 190,570 1,911,722 $ 169,180 1,254,980 $ 2,102,292 $ 1,424,160 $ 678,132 $ 21,390 656,742 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March.
Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical unita 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials 100% 100% 100% Conversion 40% 100% 201 Direct Materials Conversion Total $ 190,570 1,911,722 $ 169,180 1,254,980 $ 2,102,292 $ 1,424,160 $ 678,132 $ 21,390 656,742 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
b1.
Transcribed Image Text:Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows
the physical flow of units and costs for the month of March:
Quantities
Beginning work-in-process
Started
To account for
Transferred out
Ending work in process
Accounted for
Cost
Beginning work-in-process
Current period
Total
Physical
units
109,000
958,000
1,067,000
977,500
89,500
1,067,000
Percentage Complete
Materials:
Conversion
Materials.
100%
Required B
100%
100%
Conversion
40%
100%
201
Direct
Materials. Conversion
$ 169,180
1,254,980
Total
$ 190,570
1,911,722
$ 2,102,292 $ 1,424,160 $ 678,132
Required:
a. Compute the equivalent units for the materials and conversion cost calculation for March.
b. Compute the cost per equivalent unit for direct materials and conversion costs for March.
$ 21,390
656,742
Complete this question by entering your answers in the tabs below.
Required A
Compute the equivalent units for the materials and conversion cost calculation for March.
Equivalent
Unit
Transcribed Image Text:Required A Required B
Compute the cost per equivalent unit for direct materials and conversion costs for March.
Note: Round your answers to 2 decimal places.
Direct Materials
Conversion
Cost per
Equivalent
Unit
< Required A
Required B >
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