exercise 8

Chapter 16 Process Costing and Analysis 742 Refer to the information in Exercise 16-6. Assume that Fields uses the FIFO method of process costing Exercise 16-7A FIFO: Costs per EUP 1. Calculate the equivalent units of production for the forming department 2. Calculate the costs per equivalent unit of production for the forming department Exercise 16-8 During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in Weighted average: the production department at the beginning of April and 240,000 were started and completed in April Computing equivalent units of production April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production de partment and were 80% complete with respect to materials and 30% complete with respect to conversion 1. Compute the number of units transferred to finished goods 2. Compute the number of equivalent units with respect to both materials used and conversion used in the Check EUP for production department for April using the weighted-average method materials, 365,600 Exercise 16-9 The production department described in Exercise 16-8 had $850,368 of direct materials and S649.296 of Weighted average: conversion costs charged to it during April. Also, its beginning inventory of $167.066 consists of SI 18.472 Costs assigned to output of direct materials cost and $48,594 of conversion costs and inventories 1. Compute the direct materials cost and the conversion cost per equivalent unit for the department 2. Using the weighted-average method, assign April's costs to the department's output-specifically. its Check $2.65 per EUP units transferred to finished goods and its ending work in process inventory Exercise 16-10A to compute the number of equivalent units with respect to both rtment for April using the FIFO method, Refer to the information in Exercise 16-8 FIFO: Computing materials used and conversion