Using the data in E16-15, assume Royale Mortgage Company uses the FIFO method. Also assume that the

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Using the data in E16-15, assume Royale Mortgage Company uses the FIFO method. Also assume that the applications in process on September 1 were 100% complete as to materials (forms) and 40% complete as to conversion costs.

Instructions

(a) Determine the equivalent units of service (production) for materials and conversion costs.

(b) Compute the unit costs and prepare a cost reconciliation schedule.

Data from E16-15

Beginning WIP: Direct materials Conversion costs September costs: Direct materials Direct labor Overhead 1. Applications

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Question Posted: Mar 02, 2012 12:40 AM

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Using the data in E16-15, assume Royale Mortgage Company uses the FIFO method. Also assume that the

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a Equivalent Units Physical Units Materials Conversion Costs Applic...View the full answer

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