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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
Edition 6ISBN: 978-1305103962 Exercise 13
( Appendix 6A ) First-In, First-Out Method; Equivalent Units
Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:
Refer to the information for Inca Inc. on the previous page.
Required:
1. Calculate the equivalent units for August.
2. Calculate the unit cost. (Note: Round to two decimal places).
3. Assign costs to units transferred out and EWIP using the FIFO method.
Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:
Refer to the information for Inca Inc. on the previous page.
Required:
1. Calculate the equivalent units for August.
2. Calculate the unit cost. (Note: Round to two decimal places).
3. Assign costs to units transferred out and EWIP using the FIFO method.
Explanation
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1) Equivalent units for August...
Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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