Question

In: Accounting

The Couch Company produces a standard couch. During March, the firm's Stuffing Area started production of...

The Couch Company produces a standard couch. During March, the firm's Stuffing Area started production of 73,900 couches. During March, they finished 78,400 couches, and transferred them to the Upholstery Area. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is used by Couch.


Physical Units Dir Mtls
Conversion Costs
Beg WIP (a)
15,700
$24,400
$35,900

Started during March
73,900



Completed during March
78,400



End WIP (b)
11,200




Total cost added this month: Materials $169,000 Conversion Costs $278,600
(a)Degree of completion: Dir Mtls 100% Conversion Costs 25%
(b) Degree of completion: Dir Mtls 100% Conversion Costs 70%

What were the equivalent units for conversion costs during March?
Group of answer choices

82,315

85,675

86,240

74,465

What is the amount of direct materials cost assigned to ending work-in-process inventory at the end of March?
(Round intermediary calculations to the nearest cent.)
Group of answer choices

$29,344

$25,648

$28,800

$21,760

What is the cost of the goods transferred out during March?
(Round intermediary calculations to the nearest cent.)
Group of answer choices

$395308.50

$455,608.50

$507,900.00

$429,194.09

Solutions

Expert Solution

The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

ekkarill92 answered 2 years ago
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