CSecure https Help Save&Exit; Submit Chapter 4 Qui Mulins Corporation unes the F

Question

CSecure https Help Save&Exit; Submit Chapter 4 Qui Mulins Corporation unes the FiIFO method In its process costing system. Deta concerning the frst processdepartment for the most recent month are listed below Beginning work in process inventory Unita in beginning vork in process inventocy Materiala eoat Conversion costa Percent complete with respect to saterials Percent eomplete with respect to conversion 1,150 s 12,400 22,650 758 taits started into production during the sonth Dnits transterred to the next departnent during the sonth Katerials costs added during the month Conversion costs added during the month Ending work in, process inventory 9,500 8,700 $168,300 357,500 Units in end sng vork in process inventory Percent complete with respect to naterials Percent complete with respeot to conversion 1,950 65t The cost of a completed unit transferred out of the department is closest to: (Round equivalent units to the nearest whole number and round all o r intermediate calculations to 2 decimal places. C Prev 10 of 10 Next MacBook Pro 30

Explanation / Answer

$ 58.52

Working:

Step-1:Calculation of Equivalent units: Physical Units Materials Conversion % of completion Equivalent Units % of completion Equivalent Units Beginning Work in process 1,150 25% 288 35% 403 Units started and comleted 7,550 100% 7,550 100% 7,550 Units started and in process at the end 1,950 65% 1,268 50% 975 Total 10,650 9,105 8,928 Sep-2:Calculation of cost per equivalent unit Materials Convesion Total Costs Incurred during this period $         1,68,300 $       3,57,500 / Equivalent units of production in current period 9,105 8,928 Cost per Equivalent units of production(EUP) $ 18.48 $ 40.04 $ 58.53 Thus, Costs of a completed unit tranfered out is $      58.53 Difference in answer is due to rounding off difference.

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---