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The machining department of Tamarisk Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Units in beginning WIP Inventory Units started this period Total Units to account for Step 1: Verify physical units in the period and identify degree of completion Units completed and removed from WIP Inventory this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period eTextbook and Media Save for Later Physical Units (b1) 3,200 266,800 Tamarisk adds its conversion costs evenly throughout the machining process. (a) DM 270,000 261,600 8,400 270,000 Degree of Completion DM Conversion Costs Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the FIFO method. 100% 0% 70% Conversion Costs 40% Attempts: 0 of 2 used Submit Answer According to the completion percentages in part (a), does Tamarisk add DM costs in the machining department closer to the beginning, the middle, or the end of the process?

The machining department of Tamarisk Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Units in beginning WIP Inventory Units started this period Total Units to account for Step 1: Verify physical units in the period and identify degree of completion Units completed and removed from WIP Inventory this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period eTextbook and Media Save for Later Physical Units (b1) 3,200 266,800 Tamarisk adds its conversion costs evenly throughout the machining process. (a) DM 270,000 261,600 8,400 270,000 Degree of Completion DM Conversion Costs Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the FIFO method. 100% 0% 70% Conversion Costs 40% Attempts: 0 of 2 used Submit Answer According to the completion percentages in part (a), does Tamarisk add DM costs in the machining department closer to the beginning, the middle, or the end of the process?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The machining department of Tamarisk Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Units in beginning WIP Inventory Units started this period Total Units to account for Units completed and removed from WIP Inventory this period Units in ending WIP Inventory Total units accounted for Step 1: Verify physical units in the period and identify degree of completion Total equivalent units of work done this period eTextbook and Media Save for Later (b1) (d). Tamarisk adds its conversion costs evenly throughout the machining process. (a) Physical Units eTextbook and Media Save for Later 3,200 DM Total equivalent units of work done this period 266,800 270,000 261,600 Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the FIFO method. DM 8,400 270.000 Degree of Completion DM Conversion Costs 100% 0% According to the completion percentages in part (a), does Tamarisk add DM costs in the machining department closer to the beginning, the middle, or the end of the process? Conversion Costs 70% 40% Attempts: 0 of 2 used Submit Answer Attempts: 0 of 2 used Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the weighted-average method. Conversion Costs Submit Answer
Transcribed Image Text:The machining department of Tamarisk Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Units in beginning WIP Inventory Units started this period Total Units to account for Units completed and removed from WIP Inventory this period Units in ending WIP Inventory Total units accounted for Step 1: Verify physical units in the period and identify degree of completion Total equivalent units of work done this period eTextbook and Media Save for Later (b1) (d). Tamarisk adds its conversion costs evenly throughout the machining process. (a) Physical Units eTextbook and Media Save for Later 3,200 DM Total equivalent units of work done this period 266,800 270,000 261,600 Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the FIFO method. DM 8,400 270.000 Degree of Completion DM Conversion Costs 100% 0% According to the completion percentages in part (a), does Tamarisk add DM costs in the machining department closer to the beginning, the middle, or the end of the process? Conversion Costs 70% 40% Attempts: 0 of 2 used Submit Answer Attempts: 0 of 2 used Determine the equivalent units of production for both DM and conversion costs this year for the Tamarisk machining department under the weighted-average method. Conversion Costs Submit Answer
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