Question: Please help Fast! will thumbs up Fast! 5,000 70% 25% $7,350 $3,125 HiTech Co. uses the FIFO method of costing. Beginning goods in process inventory:
Please help Fast! will thumbs up Fast!
5,000 70% 25% $7,350 $3,125 HiTech Co. uses the FIFO method of costing. Beginning goods in process inventory: Physical units % complete for materials % complete for labour and overhead Materials cost from May Labour and overhead cost from May Product completed: Physical units Ending goods in process inventory: Physical units % complete for materials % complete for labour and overhead Manufacturing costs for June: Materials Labour and overhead 45,000 4,000 40% 10% $96,975 $79,470 REQUIRED: Calculate the equivalent units for materials, and conversion (labour and overhead) for June. Units accounted for as follows: Total Units Equivalent Units Materials Conversion Total units
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
