Question

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:

Units in beginning inventory	410
Units started into production	4,310
Units in ending inventory	310
Units transferred to the next department	4,410

	Materials		Conversion
Percentage completion of beginning inventory	60	%	40	%
Percentage completion of ending inventory	90	%	30	%

The cost of beginning inventory according to the company’s costing system was $7,830 of which $4,824 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $184,110. The costs per equivalent unit for the month were:

	Materials	Conversion
Cost per equivalent unit	$18.00	$24.00

Required:

1. Compute the total cost per equivalent unit for the month.

2. Compute the equivalent units of material and conversion in the ending inventory.

3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4. Compute the number of units started and completed during the month.

5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.

6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3
• Required 4
• Required 5
• Required 6

Compute the total cost per equivalent unit for the month. (Round your answer to 2 decimal places.)

	Total cost per equivalent unit

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3
• Required 4
• Required 5
• Required 6

Compute the equivalent units of material and conversion in the ending inventory.

	Materials Conversion Equivalent units

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3
• Required 4
• Required 5
• Required 6

Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

	Materials Conversion Equivalent units

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2
• Required 3
• Required 4
• Required 5
• Required 6

Compute the number of units started and completed during the month.

	Number of units started and completed

• Required 1
• Required 2
• Required 3
• Required 4
• Required 5
• Required 6

Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

	Materials Conversion Total Cost of ending work in process inventory

Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

	Materials Conversion Total Total cost of units transferred out

Answer 1

Compute the total cost per equivalent unit for the month. (Round your answer to 2 decimal places.)

	Total cost per equivalent unit 18+24 = 42

Compute the equivalent units of material and conversion in the ending inventory.

	Materials Conversion Equivalent units 310*90% = 279 310*30% = 93

Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

	Materials Conversion Equivalent units 410*40% = 164 410*60% = 246

Compute the number of units started and completed during the month.

	Number of units started and completed 4410-410 = 4000

Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

	Materials Conversion Total Cost of ending work in process inventory 279*18 = 5022 93*24 = 2232 7254

Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

	Materials Conversion Total Total cost of units transferred out 4164*18 = 74952+4824 = 79776 4246*24 = 101904+3006 = 104910 184686