The cutting process of Blossom Designs started the year with $6.975 in beginning inventory. By year-end, Blossom determined equivalent units of work done this period (from beginning to end of year) under the FIFO method as follows Units in beginning WIP Inventory completed this period Units started and completed this period Units in ending WIP Inventory Total cost of units completed this period $ OM 25 Cost of units in ending WIP inventory 630 100 Conversion Costs 30 630 Blossom's cost per equivalent unit is $75 for DM and $35 for conversion costs. How much cost should Blossom assign to the units completed this period? How much cost should be assigned to ending WIP Inventory for the cutting process? 45
The cutting process of Blossom Designs started the year with $6.975 in beginning inventory. By year-end, Blossom determined equivalent units of work done this period (from beginning to end of year) under the FIFO method as follows Units in beginning WIP Inventory completed this period Units started and completed this period Units in ending WIP Inventory Total cost of units completed this period $ OM 25 Cost of units in ending WIP inventory 630 100 Conversion Costs 30 630 Blossom's cost per equivalent unit is $75 for DM and $35 for conversion costs. How much cost should Blossom assign to the units completed this period? How much cost should be assigned to ending WIP Inventory for the cutting process? 45
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:The cutting process of Blossom Designs started the year with $6,975 in beginning inventory. By year-end, Blossom determined
equivalent units of work done this period (from beginning to end of year) under the FIFO method as follows
Units in beginning WIP Inventory completed this period
Units started and completed this period
Unitsin ending VIP Inventory
Total cost of units completed this period
Cost of units in ending WIP inventory
$
DM
25
630
100
$
Conversion Costs
Blossom's cost per equivalent unit is $75 for DM and $35 for conversion costs. How much cost should Blossom assign to the units
completed this period? How much cost should be assigned to ending WIP Inventory for the cutting process?
30
630
45
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