Refer to the data for Kalox, Inc., in Exercise 46. In Exercise 46, Kalox, Inc., manufactures an
Question:
In Exercise 46, Kalox, Inc., manufactures an antacid product that passes through two departments. Data for May for the first department follow:
The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labor and overhead.
Required:
Assume that the company uses the FIFO method of accounting for units and costs.
1. Compute the equivalent units for Mays activity for the first processing department.
2. Determine the costs per equivalent unit forMay.
Transcribed Image Text:
Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 Gallons started in process.760,000 Gallons transferred out Work in process, May 31 50,000 Cost added during May $48,000 790,000 $907,200 $370,000 $592,000
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Related Book For
Managerial Accounting
ISBN: 978-0078111006
14th edition
Authors: Ray Garrison, Eric Noreen and Peter Brewer
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