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. Direct Materials Conversion Units Beginning work in process inventory Units started and completed 4,800 Percent Percent Complete Complete 100% 40% 21,000 Units completed and transferred out Ending work in process inventory 25,800 4,200 100% 80% Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for $ 125,910 $ 335,160 1,397,412 1,732,572 $ 1,858,482 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. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-FIFO Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost 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 Cost per EUP Total cost $ 0 $ 0.00 EUP Cost per EUP Total cost $ 0.00 $ 0 $ 0.00 0 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. Direct Materials Conversion Units Beginning work in process inventory Units started and completed 4,800 Percent Percent Complete Complete 100% 40% 21,000 Units completed and transferred out Ending work in process inventory 25,800 4,200 100% 80% Beginning work in process inventory Costs added this period Direct materials Conversion Total costs to account for $ 125,910 $ 335,160 1,397,412 1,732,572 $ 1,858,482 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. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-FIFO Beginning work in process To complete beginning work in process EUP Cost per EUP Total cost 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 Cost per EUP Total cost $ 0 $ 0.00 EUP Cost per EUP Total cost $ 0.00 $ 0 $ 0.00 0
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To assign costs to the Roasting departments output using the FIFO method we need to calculate the cost per equivalent unit EUP for direct materials and conversion costs Calculation of cost per EUP for ... 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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