Beginning work in process: Units in process .. Completion with respect to materials... Completion with respect to conversion. Units started into production during the month Units completed and transferred out Ending work in process: Units in process ... Completion with respect to materials Completion with respect to conversion... 500 80% 40% 153,600 153,700 400 75% 20%

Beginning work in process: Units in process .. Completion with respect to materials... Completion with respect to conversion. Units started into production during the month Units completed and transferred out Ending work in process: Units in process ... Completion with respect to materials Completion with respect to conversion... 500 80% 40% 153,600 153,700 400 75% 20%

Name: Computation of Equivalent Units of Production—FIFO MethodMediSecure, I
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Computation of Equivalent Units of Production—FIFO MethodMediSecure, Inc., uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning tha

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter3: Process Cost Systems

Section: Chapter Questions

Problem 12E: a. Based on the data in Exercise 17-11, determine the following: 1. Cost of beginning work in...

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Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing. October data for the Roasting department follow. Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials. Conversion Total costs to account for Units 4,400 20, 600 25,000 3,800 $314, 760 1,374,948 Direct Materials Conversion Percent Percent Complete Complete 100% 30% 100% $ 124,790 1,689, 708 $ 1,814, 498 70%
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The assembly division of Quality Time Pieces, Inc. uses the FIFO method of process costing. Consider the following data for May 2020: (Click the icon to view the data.) (Click the icon to view the equivalent unit computation.) Requirement Summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign costs to units completed (and transferred out) and to units in ending work-in-process inventory. Begin by summarizing total costs to account for. Total costs to account for Total Production Costs Direct Materials Conversion Costs Data table Beginning work in process (May 1)ª Started in May 2020 Completed during May 2020 Ending work in process (May 31) Total costs added during May 2020 Physical Units Direct Conversion (Watches) Materials Costs $459,888 $142,570 100 510 450 160 Print a Degree of completion: direct materials, 80%; conversion costs, 35%. bDegree of completion: direct materials, 80%; conversion costs, 40%.…
Please refer to the pictures for parts A and B. Part C is below: Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $0.00 0.00 Conversion $0.00 0.00 Total costs accounted for Fields Company
Computing units in process, units completed, and equivalent production Using the following data, determine which figures should be inserted in the blank spaces. Beginning Units in Process Units Started in Production Finished Goods Units Ending Units in Process Transferred to Equivalent Units а. 600 8,000 8,600 b. 900 6,500 400–1/2 completed | 1,500 12,900 1,200–1/4 completed C. d. 7,250 7,200 150–1/2 completed 8,400 8,200 200–1/2 completed e. f. 400 6,200 6,200 6,300 -
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