Question: Refer to E3-8 for information regarding Ridgecrest Company. Required Complete all requirements for E3-8 using the FIFO method. 1. Reconcile the number of physical units

Refer to E3-8 for information regarding Ridgecrest Company.

Required
Complete all requirements for E3-8 using the FIFO method.
1. Reconcile the number of physical units worked on during the period.
2. Calculate the number of equivalent units.
3. Calculate the cost per equivalent unit rounded to five decimal places.
4. Reconcile the total cost of work inprocess.

Work in process, April 1 (100% complete for materials, 40% for conversion) Direct materials Conversion cost 31,200 units $48,000 $66,000 Number of units started 94,800 units April costs Direct materials Conversion cost $135,600 $201,600 Work in process, April 30 (100% complete for materials, 20% for conversion) 48,000 units

Step by Step Solution

★★★★★

3.31 Rating (169 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Req 1 Physical Units Physical Units Beginning Units 31200 Units Completed 78000 a Units Started 9480... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

407-B-M-A-P-C (1833).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

Elements of The Accounting Equation Completing this activity will help you learn to: Analyze elements of the accounting equation. Extract information from a data set using Excel formulas,...

Using the FIFO method prepare a process cost report for May If an amount box does not require an entry enter 0 For per unit amounts round to the nearest cent For the percentages do not enter the...

1. Complete Problem 5- 33 using the FIFO method of process costing. 2. If you did Problem 5- 33, explain any difference between the cost of work completed and transferred out and the cost of ending...

1. Complete Problem 17-36 using the FIFO method of process costing. In Problem 17-36, McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through...

UI Work In Process (FIFO) Refer to E3-9 for information regarding Ridgecrest Company. Required: Complete all requirements for E3-9 using the FIFO method. E3-11 Calculating Equivalent Units, Cost per...

E20-6 Calculating Equivalent Units, Cost per Equivalent Unit, and Reconciling the Cost of Work in Process (Weighted Average) ( Supplement ) Refer to E20-5 for information regarding Raindrop Company....

Refer to M3-4 for information regarding Bedford Company. Using the FIFO method, reconcile the number of physical units and calculate the number of equivalent units. Data from M3-4 Bedford Company...

Refer to E3-10 for information regarding Legacy Company. Required: Complete all requirements for E3-10 using the FIFO method. 1. Reconcile the number of physical units worked on during the period. 2....

Refer to E3-8 for information regarding Raindrop Company. Required: Complete all requirements for E3-8 using the FIFO method. Data from E3-8 Raindrop Company manufactures umbrellas and has the...

Refer to M3-5 for information regarding Stone Company. Using the FIFO method, reconcile the number of physical units and calculate the number of equivalentunits. Physical Units 70,000 92,000 Percent...

1.a b. Bio Tech Corporation is a biotech company that makes a cancer treatment drug in a single processing department. Direct materials are added at the start of the proces. Conversion conts are...

Judy Ericsdotter, the new marketing manager for Adaptive Wear (AW), a retailer of adaptive clothing for individuals with reduced mobility, recently proposed to the board that the company create a new...

On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? a. 0. b. $15,000. c. $35,000. d. $100,000. On July 1, TruData Company issues 10,000 shares of its...

Prove that 5 n 4 - 5 n 2 1 0 = ( n 4 ) .

Solve the following recurrence relation for the given initial conditions. y(n + 2) 0.3y(n + 1) + 0.02y(n) = 10 y(0) = 2 y(1) = 0

An invoice dated December 24 for $3765.25 has terms 1 (1/2)/15, n/30, EOM. The customer received the goods on January 2. How much is required on January 17 to fully settle the account?

The United Steelworkers of America, a national union, had a provision in its constitution that imposed requirements to be satisfied before a member could run for leadership positions in local...

M&M Ltd. is a Canadian-controlled private corporation. It does not hold any investments that pay dividends. Its refundable dividend tax on hand (RDTOH) account at December 31, 2018 was $70,000....

Jeff Malcolm purchases Sheila Wilsons interest in the Wilson & Conners partnership. What right does Malcolm obtain from the purchase? What is required for Malcolm to become Paula Connerss partner?

The communication critics critique is called an artifact.

Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Required: 1. Compute the cost per equivalent unit for...

Data concerning a recent periods activity in the Prep Department, the first processing department in a company that uses process costing, appear below: A total of 20,100 units were completed and...

Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of...

This question is about I/O redirection and pipes on the command-line. Explain what each of the following possible command-lines means. In each problem, you need to associate an appropriate meaning to...

8. Cash flow patterns and the modified rate of return calculation Blue Elk Manufacturing is analyzing a project with the following cash flows: This project has cash flows. Blue Elk Manufacturing's...

PRINTER VERSION BACK NEXT Brief Exercise 26-8 Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $1,762,478. It will be used for 12 years, then sold...