Waling-waling Company had 6,400 units of work-in-process inventory in department A on October 1, 2022. These units were 60% complete as to conversion. Direct materials are added at the beginning of the process. During the month of October, 27,200 units were started and 28,800 units were completed. Waling-Waling had 4,800 units of work-in-process inventory on October 31, 2022. These units were 20% incomplete as to conversion cost. By how much did the direct materials EUP for the month of October using average method exceed the direct materials EUP for the same month using FIFO method

Q: The Cutting department started the month with a beginning work in process inventory of $20,000.…

A: The ending balance of Work in process inventory is calculated by :-  Beginning WIP +direct material…

Q: A company started a new product, and in the first month started 80,000 units. The ending work in…

A: Units started = 80,000 Ending units = 20,000 Units transferred = 60,000

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A: Introduction:- The following formula used to calculate Cost per equivalent unit of conversion as…

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Q: Loanstar had 50 units in beginning inventory before starting 900 units and completing 750 units. The…

A:

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A: Working   Beginning work in process inventory 50   Units started 900   Units completed -750…

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A: 1. Equivalent units : This term is used to calculate the completed units from work in process…

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A: Equivalent units: =[(Opening WIP +Newly introduced & completed units) * 100%] +Closing WIP *…

Q: Required information [The following information applies to the questions displayed below.] Pacific…

A: An inventory method known as first in, first out makes the assumption that the first goods acquired…

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A: Solution: Equivalent units for conversion cost using FIFO = Units completed from beginning WIP *%…

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A: The question is based on the concept of Cost Accounting.

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A: Under Weighted average method, the beginning WIP is considered equally as transferred in units.

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A: Units transferred means the units that are manufactured and transferred to next process or sent for…

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A: Formula: Direct materials completed cost = Units transferred out x equivalent unit cost Multiplying…

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A: The cost of equivalent unit is determined by preparing the cost of equivalent unit production…

Q: How many units were transferred out during the period?

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Q: correct answer

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Q: Uramilaben

A: The objective of the question is to calculate the weighted average equivalent units of production…

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A: Solution: Equivalent units refers to the portion of work done for a particular physical unit. these…

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Q: Required information Skip to question   [The following information applies to the questions…

A: Equivalent number of units means number of units that are completely manufactured or produced in a…

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A: solution : given Material cost per unit P 1.00 Conversion cost per unit P 3.00 Units…

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A: Solution: At first, equivalent units will be computed. Then they will be used to compute cost per…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.