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The Skysong Company uses the FIFO method of process costing. What is The Skysong Company's total cost of units completed? Total cost of units completed $ How many total units did the company complete this period? Total number of units completed What was the actual per-unit cost for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) Actual unit cost for units completed $ Is this the same as the total cost per equivalent unit this period? (Round answer to 2 decimal places, e.g. 15.25.) Total cost per equivalent unit this period $ The actual cost for the units completed this period is the total cost per EU this period.

The Skysong Company uses the FIFO method of process costing. What is The Skysong Company's total cost of units completed? Total cost of units completed $ How many total units did the company complete this period? Total number of units completed What was the actual per-unit cost for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) Actual unit cost for units completed $ Is this the same as the total cost per equivalent unit this period? (Round answer to 2 decimal places, e.g. 15.25.) Total cost per equivalent unit this period $ The actual cost for the units completed this period is the total cost per EU this period.

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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Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) 18,315 $18,715 Is this the same as the total cost per equivalent unit this period? (Round answer to 2 decimal places, e.g. 15.25.) Conversion Costs % Added This Period 80% 100% 70% the total cost per EU this period. Equiv. Units 1,200 15,100 350 16,600 1
Transcribed Image Text:Units in beginning WIP Inventory completed this period Units Started and completed this period Units in ending WIP Inventory Total units accounted for Total equivalent units of work done this period Costs in beginning WIP Inventory (from last period) Costs added to WIP Inventory this period Total costs to account for Total cost of units completed $ Step 3: Account for costs Total number of units completed Physical Units What is The Skysong Company's total cost units completed? Actual unit cost for units completed $ 1,500 15,100 How many total units did the company complete this period? Total cost per equivalent unit this period $ The actual cost for the units completed this period is 500 17,100 Total Costs The Skysong Company uses the FIFO method of process costing. $1,155 26,895 $28,050 % Added This Period DM 100% 100% $755 0% 8.580 $9,335 DM Equivalent Units Equiv. Units 15,100 500 15,600 Conversion Costs $400 What was the actual per-unit cost for those units completed? (Round answer to 2 decimal places, e.g. 15.25.) 18,315 $18,715 Is this the same as the total cost per equivalent unit this period? (Round answer to 2 decimal places, e.g. 15.25.) Conversion Costs % Added This Period 80% 100% 70% the total cost per EU this period. Equiv. Units 1,200 15,100 350 16,600 1
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