Summary data for September 2015 are: Work-in-process, beginning inventory (Sept. 1) Degree of completion of beginning WIP Started during September Good units completed and transferred out during September Work-in-process, ending inventory (Sept. 30) Degree of completion of ending WIP Total costs added during September Normal spoilage as a percentage of good units Degree of completion of normal spoilage Degree of completion of abnormal spoilage Physical Units (computer chips) 600 2,550 2,100 450 15% Direct Materials $ 96,000 100% 100% $567,000 100% 100% Conversion Costs $ 15,300 30% 40% $230,400 100% 100% Required: (a) Calculate the output for September in physical units and equivalent units (b) Assign costs

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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calculate using FIFO method

 
Summary data for September 2015 are:
Work-in-process, beginning inventory (Sept. 1)
Degree of completion of beginning WIP
Started during September
Good units completed and transferred out
during September
Work-in-process, ending inventory (Sept. 30)
Degree of completion of ending WIP
Total costs added during September
Normal spoilage as a percentage of good units
Degree of completion of normal spoilage
Degree of completion of abnormal spoilage
Physical Units
(computer chips)
600
2,550
2,100
450
15%
Direct
Materials
$ 96,000
100%
100%
$567,000
100%
100%
Conversion
Costs
$ 15,300
30%
40%
$230,400
100%
100%
Required: (a) Calculate the output for September in physical units and equivalent units
(b) Assign costs
Transcribed Image Text:Summary data for September 2015 are: Work-in-process, beginning inventory (Sept. 1) Degree of completion of beginning WIP Started during September Good units completed and transferred out during September Work-in-process, ending inventory (Sept. 30) Degree of completion of ending WIP Total costs added during September Normal spoilage as a percentage of good units Degree of completion of normal spoilage Degree of completion of abnormal spoilage Physical Units (computer chips) 600 2,550 2,100 450 15% Direct Materials $ 96,000 100% 100% $567,000 100% 100% Conversion Costs $ 15,300 30% 40% $230,400 100% 100% Required: (a) Calculate the output for September in physical units and equivalent units (b) Assign costs
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