Dengo Company makes a trail mix in two departments: Roasting and Blending Direct materials are added...
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Dengo Company makes a trail mix in two departments: Roasting and Blending Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing October data for the Roasting department follow Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units 4,900 21,100 26,000 4,300 $ 340,360 1,487,160 Materials Conversion Percent Percent Complete 100% Complete 30% 100% $ 126,190 1,827,520 $ 1,953,710 70% Required: 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production H Equivalent units of production Cost per equivalent unit of production Materials Conversion 3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. (Round "Cost per EUP" to 2 decimal places.) Cost assignment-FIFO Beginning work in process To complete beginning work in process Direct materials Conversion Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion Total costs accounted for EUP EUP EUP Cost per EUP Cost per EUP Cost per EUP Total cost Total cost Total cost Dengo Company makes a trail mix in two departments: Roasting and Blending Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The company uses the FIFO method of process costing October data for the Roasting department follow Beginning work in process inventory Units started and completed Units completed and transferred out Ending work in process inventory Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for Units 4,900 21,100 26,000 4,300 $ 340,360 1,487,160 Materials Conversion Percent Percent Complete 100% Complete 30% 100% $ 126,190 1,827,520 $ 1,953,710 70% Required: 1. Compute equivalent units of production for both direct materials and conversion. 2. Compute cost per equivalent unit of production for both direct materials and conversion. Cost per equivalent unit of production H Equivalent units of production Cost per equivalent unit of production Materials Conversion 3. Assign costs to the department's output-specifically, to the units transferred out and to the units that remain in work in process at period-end. (Round "Cost per EUP" to 2 decimal places.) Cost assignment-FIFO Beginning work in process To complete beginning work in process Direct materials Conversion Started and completed Direct materials Conversion Completed and transferred out Ending work in process Direct materials Conversion Total costs accounted for EUP EUP EUP Cost per EUP Cost per EUP Cost per EUP Total cost Total cost Total cost
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To solve this problem well go step by step 1 Compute equivalent units of production for both direct materials and conversion To calculate the equivalent units of production we need to consider the uni... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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