Question
In: Accounting
Rick Company applies the FIFO method of process costing. The Molding Department reported the following information...
Rick Company applies the FIFO method of process costing. The Molding Department reported the following information for March.
Physical Percent complete with Percent complete with
Units respect to materials respect to conversion
Work in process, March 1 12,000 80% 70%
Units started 20,000
Units completed and transferred out 28,000
Work in process, March 31 4,000 40% 30%
Costs for March Materials Conversion
Work in process, March 1 $70,000 $100,000
Added during the month $150,000 $174,720
Compute the cost per equivalent unit for materials, cost per equivalent unit for conversion, and cost of units started and completed.
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ekkarill92 answered 2 years agoRelated Solutions
Andy Company applies the weighted-average method of process costing. The Molding Department reported the following information...
Andy Company applies the weighted-average method of process
costing. The Molding Department reported the following information
for March.
Physical Percent complete
with Percent
complete with
Units
respect to
materials
respect to conversion
Work in process, March
1
12,000
100%
70%
Units
started
20,000
Units completed and transferred
out 28,000
Work in process, March
31
4,000
80%
40%
Costs for
March
Materials
Conversion
Work in process, March
1
$70,000
$100,000
Added during the
month
$148,400
$136,800
Compute the cost per equivalent...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
181 units in beginning WIP (54% complete with respect to
conversion costs).
8,874 units started
103 units in ending WIP (27% complete with respect to
conversion costs).
$1,898 beginning WIP direct materials costs
$1,923 beginning WIP conversion costs
$99,412 current month direct materials costs
$98,211 current month conversion costs
What is...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
114 units in beginning WIP (31% complete with respect to
conversion costs).
8,068 units started
198 units in ending WIP (27% complete with respect to
conversion costs).
$1,781 beginning WIP direct materials costs
$2,377 beginning WIP conversion costs
$100,870 current month direct materials costs
$104,747 current month conversion costs
What is...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
223 units in beginning WIP (41% complete with respect to
conversion costs).
9,791 units started
139 units in ending WIP (32% complete with respect to
conversion costs).
$1,140 beginning WIP direct materials costs
$1,124 beginning WIP conversion costs
$92,288 current month direct materials costs
$85,721 current month conversion costs
What is...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
147 units in beginning WIP (74% complete with respect to
conversion costs).
10,415 units started
239 units in ending WIP (61% complete with respect to
conversion costs).
$13 direct material cost per equivalent unit
$11 conversion cost per equivalent unit
What is the department's total cost of ending WIP for this...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
205 units in beginning WIP (57% complete with respect to
conversion costs).
9,327 units started
206 units in ending WIP (34% complete with respect to
conversion costs).
$13 direct material cost per equivalent unit
$12 conversion cost per equivalent unit
$1,748 beginning WIP direct materials costs
$4,010 beginning WIP conversion costs...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
239 units in beginning WIP (35% complete with respect to
conversion costs).
10,418 units started
193 units in ending WIP (71% complete with respect to
conversion costs).
$21 direct material cost per equivalent unit
$12 conversion cost per equivalent unit
What is the department's total cost of ending WIP for this...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
182 units in beginning WIP (53% complete with respect to
conversion costs).
11,540 units started
184 units in ending WIP (55% complete with respect to
conversion costs).
$15 direct material cost per equivalent unit
$17 conversion cost per equivalent unit
$4,432 beginning WIP direct materials costs
$3,638 beginning WIP conversion costs...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
166 units in beginning WIP (56% complete with respect to
conversion costs).
10,206 units started
184 units in ending WIP (43% complete with respect to
conversion costs).
$22 direct material cost per equivalent unit
$12 conversion cost per equivalent unit
What is the department's total cost of ending WIP for this...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct
materials are added at the beginning of the process. This
department has the following data for this month.
200 units in beginning WIP (51% complete with respect to
conversion costs).
10,652 units started
123 units in ending WIP (36% complete with respect to
conversion costs).
$1,411 beginning WIP direct materials costs
$2,481 beginning WIP conversion costs
$107,056 current month direct materials costs
$87,452 current month conversion costs
What is...
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