BASE DATA: UNITS: Beginning WIP Inventory (20% complete to CC) 5,000 Units started 20,000 Units completed and
Question:
BASE DATA:
UNITS: Beginning WIP Inventory (20% complete to CC) 5,000
Units started 20,000
Units completed and transferred out 15,000
Ending WIP Inventory (Mat 100 %, CC 50 % complete) 10,000
Costs: Beginning inventory: Materials $4,000
CC $1,000
Current period: Materials $16,000
CC $4,000
All materials are added at the beginning of the process
WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT:
What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? Materials EUP CC EUP
What is your Product's Equivalent units (EUP) for Mat & CC using FIFO? Materials EUP CC EUP
What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? Materials Cost per EUP CC Cost per EUP
What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using FIFO? Materials Cost per EUP CC Cost per EUP
What is your Product's Cost of ending WIP inventory using Weighted Average? End MAT cost in WIP End CC cost in WIP
What is your Product's Cost of ending WIP inventory using FIFO? End MAT cost in WIP End CC cost in WIP
Check Figures: Weighted Average FIFO Your product's total cost (Mat AND CC) per equivalent unit is: $1.05 $1.01 (rounded)
Check the order of your formula calculations For example, if your cell a1 is 15 and cell b1 is 4 and cell c1 is 2. You want to add cells a1 and b1 and then divide that sum by cell c1 If your excel formula isa1+b1/c1then your calculation result is 16.333 If your excel formula is(a1+b1)/c1then your calculation result is9.5 The result 9.5 would be the correct answer.
Expert Answer:
To solve the questions regarding your product using the provided data I will perform the calculations based on the weighted average and FIFO methods 1 ... View the full answer
