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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 69
Refer to the information in Exercise 20-9 and complete its parts 1 and 2 using the FIFO method.
REFERRENCE: Exercise 20-8
The production department described in Exercise 20-8 had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs.
1. Compute the direct materials cost and the conversion cost per equivalent unit for the department.
2. Using the weighted-average method, assign April's costs to the department's output-specifically, its units transferred to finished goods and its ending work in process inventory.
REFERRENCE: Exercise 20-8
The production department described in Exercise 20-8 had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs.
1. Compute the direct materials cost and the conversion cost per equivalent unit for the department.
2. Using the weighted-average method, assign April's costs to the department's output-specifically, its units transferred to finished goods and its ending work in process inventory.
Explanation
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1.
Cost per equivalent production unit r...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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