Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of...
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Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 50% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 190 units Units transferred out 240 units Units in ending inv. 190 units Conversion costs $247,000 Cost of direct materials $240,000 Beginning work-in-process costs: Materials $137,000 Conversion $122,000 Using the FIFO method, what is the direct material cost transferred out? W Four Seasons Company makes snow blowers. 100% of the materials are added at the beginning of the process. This means that beginning and ending inventories are 100% complete with respect to DM. The conversion costs are uniformly incurred. The physical units in beginning inventory are 50% complete with respect to conversion costs and the ending inventory is 30% complete with respect to conversion costs. Other data for the month include: Beginning WIP inventory 190 units Units transferred out 240 units Units in ending inv. 190 units Conversion costs $247,000 Cost of direct materials $240,000 Beginning work-in-process costs: Materials $137,000 Conversion $122,000 Using the FIFO method, what is the direct material cost transferred out? W
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First we need to calculate the equivalent units of production for both direct materials and conversi... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Posted Date:
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