Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Physical units Materials Percentage Complete Conversion Beginning work-in-process 115,000 100% 40% Started 961,000 To account for 1,076,000 Transferred out 983,500 100% 100% Ending work in process 92,500 100% 20% Accounted for 1,076,000 Cost Beginning work-in-process Current period Total Total $ 202,570 2,033,570 Direct Materials $ 175,180 1,316,570 $ 2,236,140 $ 1,491,750 Conversion $ 27,390 717,000 $ 744,390 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. Complete this question by entering your answers in the tabs below. Required A Required B Compute the equivalent units for the materials and conversion cost calculation for March. Equivalent Unit Materials Conversion < Required A Required B > Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. Complete this question by entering your answers in the tabs below. Required A Required B Compute the cost per equivalent unit for direct materials and conversion costs for March. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials Conversion < Required A Required B > Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Physical units Materials Percentage Complete Conversion Beginning work-in-process 115,000 100% 40% Started 961,000 To account for 1,076,000 Transferred out 983,500 100% 100% Ending work in process 92,500 100% 20% Accounted for 1,076,000 Cost Beginning work-in-process Current period Total Total $ 202,570 2,033,570 Direct Materials $ 175,180 1,316,570 $ 2,236,140 $ 1,491,750 Conversion $ 27,390 717,000 $ 744,390 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. Complete this question by entering your answers in the tabs below. Required A Required B Compute the equivalent units for the materials and conversion cost calculation for March. Equivalent Unit Materials Conversion < Required A Required B > Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. Complete this question by entering your answers in the tabs below. Required A Required B Compute the cost per equivalent unit for direct materials and conversion costs for March. Note: Round your answers to 2 decimal places. Cost per Equivalent Unit Direct Materials Conversion < Required A Required B >
Expert Answer:
Answer rating: 100% (QA)
To compute the equivalent units for materials and conversion costs we need to consider the physical ... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Shirley Processing, Inc. (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Required a....
-
1. Which company presents the most compelling "paid" advertising, in your opinion? Why? 2. Choose the same social media platform for both companies (e.g. Facebook) and then decide which company makes...
-
Calculate the anion gap for a 58 year old insulin dependent diabetic woman who is admitted to the emergency room in a comatose state Na-135mmol/L K= 3.5 mmol/L CI-102 mmol/L HCO3-= 15mmol/L. Include...
-
(a) Show that the substitution z = 1 / P transforms the logistic differential equation P' = kP(1 - P / M) into the linear differential equation z' + kz = k / M (b) Solve the linear differential...
-
Explain the different methods of training employees. And could you please explain them. Also, witch one would you suggest and why?
-
Brugha Research Associates (BRA) just completed a controlled store test of a proposed new packaging for the Aussie brand of cookies. BRA collected eight weeks of pretest period sales data for Aussie...
-
Ahab's Coffee has 150 customers. Fifty of them are small and 100 are big, with appetites for coffee matching their size. Small people value coffee at $0.10 per ounce for the first 8 ounces and...
-
Dividing LLC Income Martin Farley and Ashley Clark formed a limited liability company with an operating agreement that provided a salary allowance of $56,000 and $45,000 to each member, respectively....
-
The real estate agent performs a __________________ and provides several recent sales comparables (sales comps) of properties that have recently sold. comparative market analysis cost-benefit...
-
Reg is 56 years of age and has worked for SD PTY. LTD. for 23 years. He earnt $180,000 this year before being made redundant. Reg is eligible for the full amount of his long service leave. He...
-
Answer these questions What is Nihilism? 2. Describe the evil crime that Leopold and Loeb committed in Chicago in the early 1950's 3. Describe Juds ( Mr. Leob) conversation with Ruth at the bar...
-
What mechanisms do operating systems use to manage concurrency? Compare and contrast different synchronization techniques, such as mutexes, semaphores, and condition variables .
-
1. Marketing is often criticized because it "creates a consumer need for items they don't actually need". Support or refute this claim. 2. Based on analysis, could this change based on the industry...
-
How did the Print Age catalyze the Industrial Revolution? The print age: Prototype of the Industrial Revolution . McLuhan argued that the most important aspect of movable type was its ability to...
-
Discuss the concept of value as it relates to social, environmental, and economic inputs. How is value perceived differently from different stakeholders? When looking at sustainability, why is value...
-
Give the structural formulas of the alkenes that, on ozonolysis, give: a. (CH3)2C=O and CH2=O b. Only (CH3CH2)2C=O c. CH3CH=O and CH3CH2CH=O d. O=CHCH2CH2CH2CH=O
-
With a neat sketch of a room air-conditioner, explain its working principle.
-
Distinguish between a heat engine, a heat pump, and a refrigerator.
-
Discuss about psychrometry and their properties?
Study smarter with the SolutionInn App