X-Corp. uses first in first out for its process costing Materials are issued 100% when work order is created 

Beginning WIP: conversion costs 50% complete

Ending WIP: conversion costs 30% complete

Abnormal spoilage is 50% of normal spoilage

Physical units

Beginning WIP 1,500

Started 15.225

Total spoilage 225

Ending WIP 3,000

Costs Material Conversion Total

Prior $2,846 $2.220 $5,066

Current $24.360 $55.500 $79,860

Total $27,206 $57,720 $84,926

QUESTIONS : NEED HELP WITH STEPS TO FIFO PROCESS COSTING PLEASE

A calculate physical units "to account"

B. calculate physical units "started & finished"

C. calculate material cost equivalent units

D. calculate conversion cost equivalent units

E. calculate material cost per unit ($)

F. calculate conversion cost per unit ($) G. calculate cost of goods manufactured (5)

H. calculate value of abnormal spoilage ($)

1. calculate value of work-in-process inventory ($)

J. calculate inventory unit cost (to finished goods) ($)

Answer rating: 100% (QA)

XCorp FIFO Process Costing Well solve this stepbystep using the FIFO FirstInFirstOut method and the provided information A Physical Units To Account This refers to the total number of units we need to ... View the full answer