Question: WA & FIFO EUP Ramos Corp. uses a process costing system to assign costs to its steel production. During March, Ramos had beginning Work in

WA & FIFO EUP Ramos Corp. uses a process costing system to assign costs to its steel production. During March, Ramos had beginning Work in Process Inventory of 468,000 tons of steel (100 percent complete as to material and 65 percent complete as to conversion). During the month, the raw material needed to produce 8,840,000 tons of steel was started in process. At month-end, 429,000 tons remained in WIP Inventory (100 percent complete as to material and 40 percent complete as to conversion). a. Compute the total units to account for. 0 b. Determine how many units were started and completed. 0 c. Determine the equivalent units of production using the weighted average method. EU for materials EU for conversion 0 0 d. Determine the equivalent units of production using the FIFO method. EU for materials EU for conversion 0 0 e. Reconcile your answers to parts (c) and (d). Note: Use a negative sign to indicate amount in table is subtracted. WA ELP FIFO EUP DM CC 0 0 0 0 0 0 WA EUP; cost per WA EUP Kahil Mfg. makes skateboards and uses a weighted average process costing system. On May 1, the company had 400 boards in process that were 70% complete as to material and 85% complete as to conversion. During the month, 5,700 additional boards were started, and 300 boards were still in process (40% complete as to material and 60% complete as to conversion) at the end of May. Cost information for May is as follows: Beginning WIP Inventory costs Direct material Conversion Current period costs Direct material Conversion $6.524 6.987 $91,163 70,125 a. Calculate EUP for each cost component using the weighted average method. EUP for materials EUP for conversion 0 0 b. Calculate cost per EUP for each cost component. Note: Round answers to two decimal places. Material cost per EUP S 0 Conversion cost per EUP S 0

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