Calculation for March Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information showsthe physical flow of units and costs for the month of March:QuantitiesBeginning work-in-processStartedTo account forTransferred outEnding work in process.Accounted forCostBeginning work-in-processCurrent periodTotalPhysicalunits107,000957,0001,064,000975,50088,5001,064,000Required A Required BTotal$ 186,5701,871,298$ 2,057,868Percentage CompleteMaterialsConversionMaterials100%100%100%DirectMaterials$ 167,1801,234,530$ 1,401,710Conversion40%100%20%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.Conversion$ 19,390636,768$ 656,158Complete this question by entering your answers in the tabs below.Compute the equivalent units for the materials and conversion cost calculation for March.EquivalentUnit

Beginning WIP units for EUP are determined under FIFO costing by multiplying beginning WIP units by…

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 107,000 957,000 Materials Conversion 1,064,000 975,500 88,500 1,064,000 Required B Percentage Complete Materials 100% 100% 100% Total $ 186,570 1,871,298 Direct Materials $ 167,180 1,234,530 $ 2,057,868 $ 1,401,710 Conversion 40% 100% 20% 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. Conversion $ 19,390 636,768 $ 656,158 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

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 107,000 957,000 Materials Conversion 1,064,000 975,500 88,500 1,064,000 Required B Percentage Complete Materials 100% 100% 100% Total $ 186,570 1,871,298 Direct Materials $ 167,180 1,234,530 $ 2,057,868 $ 1,401,710 Conversion 40% 100% 20% 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. Conversion $ 19,390 636,768 $ 656,158 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

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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