Question: lowa Company uses a process costing system. Operating data for the first processing department for the month of June appear below: Percent Complete with Respect
lowa Company uses a process costing system. Operating data for the first processing department for the month of June appear below: Percent Complete with Respect to Units Conversion Beginning work in process inventory 11,000 Started into production during June 98,000 Ending work in process inventory 21,000 80% ON According to the company's records, the conversion cost in beginning work in process inventory was $46.915 at the beginning of june. Additional conversion costs of $825,183 were incurred in the department during the month. 1. How many units are transferred out? 2. If lowa uses the weighted average method, what are the equivalent units of conversion for the month? if lowa uses the weighted average method, what is the cost per equivalent units of conversion for the month? 3. If lowa uses the FIFO method, what are the equivalent units of conversion for the month? If lowa uses the FIFO method, what is the cost per equivalent units of conversion for the month
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