TB MC Qu. 16-123 (Algo) Sparky Corporation uses the FIFO method... Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding department: Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 63,000 68,850 $ 420, 600 Units 45,000 130,000 175,000 40,000 Calculate the cost per equivalent unit for direct materials. Direct materials Conversion Percent Percent Complete $ 131, 850 619, 150 $ 1,039, 750 100% 100% Complete 60% 25%

TB MC Qu. 16-123 (Algo) Sparky Corporation uses the FIFO method... Sparky Corporation uses the FIFO method of process costing. The following information is available for February in its Molding department: Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Production cost information for the Molding department follows. Beginning work in process Direct materials Conversion Costs added this period Direct materials Conversion $ 63,000 68,850 $ 420, 600 Units 45,000 130,000 175,000 40,000 Calculate the cost per equivalent unit for direct materials. Direct materials Conversion Percent Percent Complete $ 131, 850 619, 150 $ 1,039, 750 100% 100% Complete 60% 25%

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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