Question 7 - Process Costing: FIFO Method (CH4) (check figures: Materials EU = 104,900; Conversion EU...

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Question 7 - Process Costing: FIFO Method (CH4) (check figures: Materials EU = 104,900; Conversion EU = 105,800; Ending WIP = $49,195) HaHa Calculators Co. utilizes process costing for its main product, the RealDigits Deluxe. Data related to the products in Department 2, Fancy Colours, during Mach is as follows: % Complete Work in process, March 1 Units Materials Conversion Work in process, March 31 Started in production during the month 12,000 105,000 90% 50% 6,500 80% 20% The company recorded the following costs: Total Materials Conversion Work in process, March 1 Work in process, March 31 88,300 1,200,000 62,000 26,300 924,00 276,000 Required: 1. Complete the schedule below to calculate the equivalent units and equivalent cost per unit. 2. What is the ending value of work in process for Department 2, after completed goods have bee transferred out? Units to be accounted for: Quantity Schedule and Equivalent Units Work in process, beginning Started in In production Total units D000 105,000 117,000 Equivalent U Units to account for: Materials C Work in process, beginning 1,200 Started in production 105,000 105,000 Work in process, onding 61500 $120,0 Total units Costs to account for: quivalent units ost per equivalent unit ost per equivalent whole unit Question 7 - Process Costing: FIFO Method (CH4) (check figures: Materials EU = 104,900; Conversion EU = 105,800; Ending WIP = $49,195) HaHa Calculators Co. utilizes process costing for its main product, the RealDigits Deluxe. Data related to the products in Department 2, Fancy Colours, during Mach is as follows: % Complete Work in process, March 1 Units Materials Conversion Work in process, March 31 Started in production during the month 12,000 105,000 90% 50% 6,500 80% 20% The company recorded the following costs: Total Materials Conversion Work in process, March 1 Work in process, March 31 88,300 1,200,000 62,000 26,300 924,00 276,000 Required: 1. Complete the schedule below to calculate the equivalent units and equivalent cost per unit. 2. What is the ending value of work in process for Department 2, after completed goods have bee transferred out? Units to be accounted for: Quantity Schedule and Equivalent Units Work in process, beginning Started in In production Total units D000 105,000 117,000 Equivalent U Units to account for: Materials C Work in process, beginning 1,200 Started in production 105,000 105,000 Work in process, onding 61500 $120,0 Total units Costs to account for: quivalent units ost per equivalent unit ost per equivalent whole unit