Question: Please answer in the same format as the table below and show all work and calculations. Thank you. Alvis Construction Supply Company has a department

Please answer in the same format as the table below and show all work and calculations. Thank you. Please answer in the same format as the table below and show

Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction Industry. The following information is for the production of these trusses for the month of February 4,880 trusses $11,280 $16, e58 18,800 trusses 17,800 trusses Work-in-process inventory, February 1 Direct material: 100% complete Conversion: 20% complete Units started during February Units completed during February and transferred but Work-in-process inventory, February 29 Direct materials: 100% complete Conversion: 40% complete Costs incurred during February Direct materials Conversion $59,840 $92,892 Required Using the FIFO method, calculate the following 1-a Costs per equivalent unit. (Round your answers to 4 decimal places.) 1-b Cost of goods completed and transferred out (Do no round your Intermediate calculations. Round your final answer to the nearest whole dollar.) 1c Costs remaining in the Work-in-Process Inventory account. (Do no round your Intermediate calculations. Round your final answer to the nearest whole dollar.) 2. Assume that you are the company's controller. The production department's February equivalent unit cost is higher than expected. If the manager of the first department asks you to do him a favor by increasing the ending inventory completion percentage from 40 to 60% to lower the unit costs, how much would unit cost be affected by this request? (Round your answer to 4 decimal places.) Direct Materials Conversion ta Cost per EU Cost of goods completed and transferred out Costs remaining in the WIP Inventory account The weighted average cost per equivalent unit 2 by

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!