Question

In: Accounting

Fox Company manufactures a specialty brass hardware item that it sells to com- panies that use...

Fox Company manufactures a specialty brass hardware item that it sells to com-

panies that use it as an attachment for the garden hoses they manufacture. During the most recent

month, there were 1,500,000 units in opening inventory. During the month 6,000,000 units were

entered into production and 7,000,000 were completed. The units in ending inventory were 100%

complete with respect to materials costs and 90% complete with respect to conversion costs. The

accounting records show that there were $3,000,000 of materials costs and $750,000 of conver-

sion costs in opening inventory, and in the current month, materials costs of $11,250,000 and

conversion costs of $5,955,000 were added.

Required

(a) Compute the cost per equivalent unit for materials.

(b) Compute the cost per equivalent unit for conversion.

(c) Compute the materials cost in ending work in process.

(d) Compute the conversion cost in ending work in process.

(e) Compute the material costs transferred out.

(f) Compute the conversion cost transferred out

Solutions

Expert Solution

ekkarill92 answered 3 days ago
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