Question: 1. Do Exercise 18-25 using the FIFO method. Data from Exercise 18-25 2. What are the managerial issues involved in selecting or reviewing the percentage

1. Do Exercise 18-25 using the FIFO method.

Data from Exercise 18-25

2. What are the managerial issues involved in selecting or reviewing the percentage of spoilage considered normal? How would your answer to requirement 1 differ if all spoilage were viewed as normal?

Home InsertPage Layout Formulas t Review View Physical DirectConversion Units Materials 2,400 $21,240$ 13,332 Costs pril 1 of beginning work in Work in inni ree of com 100% 5% 4 Started during Apri 5 Good units c leted and transferred out durin endin 12,000 10,800 2,160 6 Work in pril 30 75% $97,560$111,408 7 Degree of completion of ending work in process 8 9 Normal spoilage as a 10 100% Total costs added durin e of good units 10% e of c e of completion of abnormal spoila 100% 100% 100% 100% etion of normal spoilag

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1 Solution Exhibit 1826 Panel A calculates equivalent units of work done in the current period for direct materials and conversion costs Solution Exhibit 1826 Panel B summarizes total costs to account ... View full answer

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