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%
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text: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%
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