Answered: Using FIFO method, the EUP of completed…

Using FIFO method, the EUP of completed and transferred units is 2. The unit conversion cost using weighted average method is:

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 6EB: What are the total costs to account for if a companys beginning inventory had $23,432 in materials...

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Question

Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125.

Questions:

1. Using FIFO method, the EUP of completed and transferred units is

2. The unit conversion cost using weighted average method is:

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Step 1 Calculation of units started and completed:

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Step 2 Calculation of EUP of completed and transferred units:

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Step 3 Calculation of units completed during the year:

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Step 4 Calculation of equivalent units under weighted average:

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Step 5 Calculation of unit cost under weighted average:

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Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125. The unit conversion cost using weighted average method is? Using FIFO method, the EUP of completed and transferred units is? Using FIFO method, the unit cost is: 0.82 0.86 0.70 NOTA
Ibe Corporation has an EUP of 248,750 units. Beginning inventory units of 22,500, 40% incomplete; ending inventory units of 24,000 60% complete. Conversion costs of beginning inventory of P9,800; current period conversion costs of P204,125.1. The total units started in process? 2.The unit conversion cost using weighted average method is? 3.Using FIFO method, the unit cost is? 4.The total EUP of completed and transferred units is?
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