Question

Continuation of 17-28. Refer to the information in Exercise 17-26. Suppose the Assembly Division at Fenton Watches Inc. uses the FIFO method of process costing instead of the weighted-average method.
In Exercise 17-26.
Degree of completion: direct materials, 90%; conversion costs, 40%.
†Degree of completion: direct materials, 60%; conversion costs, 30%.
REQUIRED
For the data in Exercise 17-26, use the FIFO method to summarize total costs to account for, calculate cost per equivalent unit for direct materials and conversion costs, and assign total costs to units completed (and transferred out) and to units in ending work in process.


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  • CreatedJuly 31, 2015
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