TK Co. manufactures a single product that goes through two processes, mixing and cooking. The data...

 

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TK Co. manufactures a single product that goes through two processes, mixing and cooking. The data pertain to the mixing department for April 2016: Work-in-process inventory, April 1 Conversion: 80 percent completed Work-in-process inventory, April 30 Conversion: 40 percent completed Units started into production Units completed and transferred out Costs Work-in-process inventory, April 1 Materials X Materials Y Conversion Cost added during April Materials X Materials Y Conversion 27,000 units 17,000 units 60,000 64,800 89,100 119,880 152,700 138,400 302,520 Materials X is added at the beginning of work in the mixing department. Material Y also added in the mixing department, but not until units of product are 60 percent complete with regard to conversion. Conversion costs are incurred uniformly during the process. (if FIFO method) 12. The cost of units transferred out is? 13. What is the value of ending Work-in-Process Inventory? TK Co. manufactures a single product that goes through two processes, mixing and cooking. The data pertain to the mixing department for April 2016: Work-in-process inventory, April 1 Conversion: 80 percent completed Work-in-process inventory, April 30 Conversion: 40 percent completed Units started into production Units completed and transferred out Costs Work-in-process inventory, April 1 Materials X Materials Y Conversion Cost added during April Materials X Materials Y Conversion 27,000 units 17,000 units 60,000 64,800 89,100 119,880 152,700 138,400 302,520 Materials X is added at the beginning of work in the mixing department. Material Y also added in the mixing department, but not until units of product are 60 percent complete with regard to conversion. Conversion costs are incurred uniformly during the process. (if FIFO method) 12. The cost of units transferred out is? 13. What is the value of ending Work-in-Process Inventory?

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To calculate the cost of units transferred out and the value of ending work in process inventory using the FIFO FirstInFirstOut method we need to allo... View the full answer