Question: Data Section: Percent Percent Materials Conversion Units 100% 40% Work in process, beginning Units completed during month Work in process, ending 60,000 210,000 30,000 100%

Data Section: Percent Percent Materials Conversion Units 100% 40% Work in process, beginning Units completed during month Work in process, ending 60,000 210,000 30,000 100% 7005 Costs to account for: Total Materials Conversion Beginning work in process Current Period Costs $94.800 750,000 $23.700 150.000 $71,100 600,000 Total costs to be accounted for FORMULA1 $173,700 $671,100 Objective 1 - FIFO Equivalent units of production: Equivalent units Total Units Materials Conver. Units Transferred Out Add Ending Inventory Less Beginning Inventory 210.000 FORMULA2 FORMULA3 FORMULA4 FORMULAS FORMULA 60.000 FORMULAT FORMULAS Equivalent units Obective 2 - Costs per equivalent unit: (Must use formulas to avoid rounding errors) Materials Conver FORMULAS FORMULA 10 FORMULA 11 Total unit cost Objective 3 - Cost assignment: Beginning work in process: Prior period cost Conversion of beginning work in process FORMULA12 FORMULA13 FORMULA14 Units started and completed Total transferred out Ending inventory work in process: Materials Conversion FORMULA15 FORMULA 16 Total ending work in process Total costs accounted for (Mustequal E21) Debit Credit Journal Entry 6/30 END Data Section: Percent Percent Materials Conversion Units 100% 40% Work in process, beginning Units completed during month Work in process, ending 60,000 210,000 30,000 100% 7005 Costs to account for: Total Materials Conversion Beginning work in process Current Period Costs $94.800 750,000 $23.700 150.000 $71,100 600,000 Total costs to be accounted for FORMULA1 $173,700 $671,100 Objective 1 - FIFO Equivalent units of production: Equivalent units Total Units Materials Conver. Units Transferred Out Add Ending Inventory Less Beginning Inventory 210.000 FORMULA2 FORMULA3 FORMULA4 FORMULAS FORMULA 60.000 FORMULAT FORMULAS Equivalent units Obective 2 - Costs per equivalent unit: (Must use formulas to avoid rounding errors) Materials Conver FORMULAS FORMULA 10 FORMULA 11 Total unit cost Objective 3 - Cost assignment: Beginning work in process: Prior period cost Conversion of beginning work in process FORMULA12 FORMULA13 FORMULA14 Units started and completed Total transferred out Ending inventory work in process: Materials Conversion FORMULA15 FORMULA 16 Total ending work in process Total costs accounted for (Mustequal E21) Debit Credit Journal Entry 6/30 END

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