Chapter $8$ Homework $($i$)$

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Exercise $8-45,8-46,8-47$ & $8-48($Algo$)($LO $8-2,3,5)$

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Bellevue Chemicals had beginning work$-$in$-$process inventory of $$257,415$ on March $1.$ Of this amount, $$102,215$ was the cost of direct materials and $$155,200$ was the cost of conversion. The $24,380$ units in the beginning inventory were $45$ percent complete with respect to direct materials and $65$ percent complete with respect to conversion costs.

During March, $58,570$ units were transferred out and $15,900$ remained in ending inventory. The units in ending inventory were $70$ percent complete with respect to direct materials and $15$ percent complete with respect to conversion costs. Costs incurred during March amounted to $$978,135$ for direct materials and $$1,076,091$ for conversion.

References

Exercise $8-47($Algo$)$ Compute Costs per Equivalent Unit: FIFO Method $($LO $8-5)$

Required:

a$.$ Compute the equivalent units for the materials and conversion cost calculations.

b$.$ Compute the cost per equivalent unit for direct materials and for conversion costs for March using the FIFO method.

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Compute the equivalent units for the materials and conversion cost calculations.