Question: Use below information for Questions 1 to 4 : The smelting department of Company X has following production and cost data for September: Production: Beginning

Use below information for Questions 1 to 4: The smelting department of Company X has following production and cost
data for September:
Production: Beginning WIP 200 units that are 100% complete as to materials and 87% complete as to conversion
costs; units started into production 1,000 units; units transferred out to next department 980 units; ending WIP
are 100% complete as to materials and 46% complete as to conversion costs.
Manufacturing costs: Beginning WIP TL8,600 materials, TL9,220 labor and TL2,600 MOH costs. In current
period, TL50,800 worth of materials, TL25,200 worth of labor and TL37,000 worth of MOH costs are incurred.
Q-1) Compute the material cost portion of the ending inventory if the company uses WA method to compute equivalent
units.
Q-2) Compute the conversion cost portion of the ending inventory if the company uses FIFO method to compute
equivalent units.
Q-3) Compute the material cost portion of the transferred out inventory if the company uses FIFO method to compute
equivalent units.
Q-4) Compute the conversion cost portion of the transferred out inventory if the company uses WA method to compute
equivalent units.
 Use below information for Questions 1 to 4: The smelting department

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!