Chapter $4$ Homework i

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Exercise $4$A$-9($Algo$)$ Equivalent Units; Equivalent Units of Production; Assigning Costs$-$FIFO Method $[$LO$4-6,$ LO$4-7,$ LO$4-8]$

$6\mathrm{.}25$

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$04$:$48$:$24$

Jarvene Corporation uses the FIFO method of process costing. The following data are for the most recent month of operations in one of the company's processing departments:

$\backslash$table$[[$Units in beginning inventory,$350],[$Units started into production,$4,290],[$Units in ending inventory,$280],[$Units transferred to the next department,$4,360]]$

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Percentage completion of beginning inventory

Materials

Percentage completion of ending inventory

Conversion

$20\%$

The cost of beginning inventory was $$7,805$ of which $$4,844$ was for materials and the remainder was for conversion cost. The costs added during the month equaled $$178,074.$ The costs per equivalent unit for the month were:

Cost per equivalent unit Materials Conversion

Required:

For the month:

Compute the total cost per equivalent unit.

Compute the equivalent units of material and conversion in the ending inventory.

Compute the equivalent units of material and conversion required to complete the beginning inventory.

Compute the number of units started and completed.

Compute the cost of ending work in process inventory for materials, conversion, and in total.

Compute the cost of the units transferred to the next department for materials, conversion, and in total.

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Required $3$

Required $4$

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Required $6$

Compute the total cost per equivalent unit for the month.

Note: Round your answer to $2$ decimal places.

Total cost per equivalent unit

Required $1$

Required $2$