Question: Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of

 Jarvene Corporation uses the FIFO method in its process costing system.
The following data are for the most recent month of operations in
one of the company's processing departments: Units in beginning inventory Units started
into production Units in ending inventory Units transferred to the next department
360 4,250 280 4,330 Percentage completion of beginning inventory Percentage completion of
ending inventory Materials 70% sex Conversion 30% 40x The cost of beginning

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department 360 4,250 280 4,330 Percentage completion of beginning inventory Percentage completion of ending inventory Materials 70% sex Conversion 30% 40x The cost of beginning inventory according to the company's costing system was $7,830 of which $4.853 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $177,118. The costs per equivalent unit for the month were: Cost per equivalent unit Materials $15.00 Conversion $23.00 Required: 1. Compute the total cost per equivalent unit for the month. 2. Compute the equivalent units of material and conversion in the ending inventory. 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. 4. Compute the number of units started and completed during the month. 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the equivalent units of material and conversion in the ending inventory. Materials 224 Conversion 112 Equivalent units Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the equivalent units of material and conversion that were required to complete the beginning inventory. Materials 4,302 Conversion 4,334 Equivalent units Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the number of units started and completed during the month. Number of units started and completed 3,970 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. (Round your Intermediate calculations to 2 decimal places.) Materials Conversion 4,032 s 2.576$ Total 6 608 Cost of ending work in process inventory Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.) Conversion Materials $ 78.257 Total 178,340 Total cost of units transferred out S 100,083 $

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