I would also like to see all the work involved in this problem, thank you. ACCT3
ID: 2545549 • Letter: I
Question
I would also like to see all the work involved in this problem, thank you.
ACCT320 Cost Management Systems: 2018 Spring Bryan Sheffield ACCOUNTING HW8 Process Costing instructions I help Question 7 (of 14) Save & Exit Submit 7. 5.00 points The following information pertains to the Moline Facility for the month of May (all materials are added at the beginning of the process): UnitsMaterial Costs Beginning work in process Started in May Units completed Ending work in process $148.500 475,200 54,000 144,000 153,000 45,000 Required Compute the cost per equivalent unit for materials using the FIFO method. (Round "Cost per equivalent unit" answer to 2 decimal places.) Total costs to be accounted for Cost per equivalent unit ReferenceseBook & Resources Worksheet Difficulty: 2 Medium Learning Objective: 08-05 Assign costs to products using first-in, first-out (FIFO) costing.Explanation / Answer
Statement of Equivalent production Particulars Direct Materials %completion Equivalent mat Opening WIP 54,000.00 0% - Units started and completed (153000 - 54000) 99,000.00 100% 99,000.00 ending WIP 45,000.00 100% 45,000.00 Equivalent Units 144,000.00 Total cost to be accounted for 475,200.00 Cost per Equivalent units = 475200 / 144000 3.30