Equivalent Units (This Period Only) Physical Units Direct Conversion Costs Flow of Production Materials WIP: Beginning Started during current period To account for 2000 7000 9000 1200 Completed & transferred out during current period From Beginning WIP (0% DM, 60% CC 2000 this period) Started and Completed (100% DM, 100% CC) 4000 WIP: Ending (100% DM, 30% CC) 3000 Units accounted for 9000 Equivalent units of work done THIS PERIOD 4000 4000 3000 900 7000 6100 Direct Materials Conversion Costs 14,000 WIP: Beginning Costs added in current period 14,000 92,000 86,000 Note: The company completes items in beginning inventory first. Using the above information and the FIFO method, calculate the balance for the WIP Inventory account (in dollars) at the end of the period. (Round to nearest dollar after calculations are complete. Do not round early.) QUESTION 1 2 poir Situation: Gamma and Delta both make wedding cakes, but are not direct competitors. Gamma makes cakes in bulk for low-end retailers. While they do provide a limited variety of cakes, customers are limited to purchasing from the cakes listed on the website. Delta makes cakes for high-end customers. Each cake Delta makes is unique and designed to meet the precise needs of the client. Choose the firm that makes the following statement true. is likely more concerned about cost efficiency Gamma Delta QUESTION 6 Physical Units Beginning WIP New units started Ending WIP 190 430 30 "Beginning WIP was 100% complete for direct materials, and 60% complete for conversion costs "Ending WIP was 100% complete for direct materials, and 30% complete for conversion costs. Using the FIFO method, what is the equivalent units of work done during this period for conversion costs