Question

THE Company operates two departments, Department L and
Department Q. THE Company uses a FIFO process costing
system. Department L reported the following inventory
information for June:

                                     % complete    % complete
                            units       DM          conversion 
work in process, June  1    14,000      24%           79%
work in process, June 30    18,000      65%           41%

The cost of beginning work in process and the costs added
during June in Department L were as follows:

                                   DM             Conversion
work in process, June 1         $ 36,804           $ 24,660
costs incurred during June       288,298            266,328

During June, Department L completed 53,000 units and
transferred them to Department Q.

Part A.) The cost to complete the units in beginning work in
process was equal to:

Group of answer choices

$75,516

$70,774

$61,464

$73,738

$83,062

$79,936

$65,884

$73,629

Part B.) Department L's work in process inventory balance at June 30 was equal to:

Group of answer choices

$80,790

$94,842

$102,195

$105,552

$181,800

$192,708

$193,818

$196,281

Part C.) The cost of goods started and completed in June for Department L was equal to:

Group of answer choices

$434,300

$521,248

$393,900

$170,174

$436,800

$554,626

$381,657

$473,836

Answer 1

UNITS TO ACCOUNT FOR:
Beginning Work in Process units			14,000
Add: Units Started in Process			57,000
Total Units to account for:			71,000
UNITS TO BE ACCOUNTED FOR:
Units completed from beginning WIP		14000
Units started and completed			39,000
Ending Work in Process			18,000
Total Units to be accounted for:		71,000
Equivalent Units:
			UNITS	Material Cost	Conversion
				% Completion	Units	% Completion	Units
Units completed from Beg.	14000	76%	10,640	21%	2,940
Units started and completed	39000	100%	39,000	100%	39,000
Ending Work in Process	18000	65%	11,700	41%	7,380
Total Equivalent units	71000		61,340		49,320
TOTAL COST TO ACCOUNT FOR:
				Material		Conversion
Cost incurred			2,88,298		2,66,328
Total Cost to account for:		2,88,298		2,66,328
Equivalent Units			61,340		49,320
Cost per Equivalent unit		4.7		5.4
TOTAL COST ACCOUNTED FOR:
Units completed from Beg. Wip (14000 units)
				Equivalent unit	Cost per EU	Total Cost
Cost of beginning WIP				61464
Material				10,640	4.7	50008
Conversion Cost			2,940	5.4	15876
Total cost to complete beginning WIP			127348
Cost to complete the beginning WIP (50008+15876):		65884
Units started and completed (39000 units)
				Equivalent unit	Cost per EU	Total Cost
Material				39,000	4.7	183300
Conversion Cost			39,000	5.4	210600
Total cost of units started and complted			393900
Total cost of units transferred out			521248
Ending Work in process (18000 units)
				Equivalent unit	Cost per EU	Total Cost
Material				11,700	4.7	54990
Conversison Cost			7,380	5.4	39852
Total cost of Ending Work in process:			94,842
Req A:
Answer is $ 65884
Part B:
Answer is $ 94,842
Part C:
Answer is $ 393900