Data concerning a recent period’s activity in the Assembly Department, the first
ID: 2423705 • Letter: D
Question
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses process costing, appear below:
A total of 26,000 units were completed and transferred to the next processing department during the period. Beginning work in process inventory consisted of 2,600 units and`ending work in process inventory consisted of 1,500 units.
Required:
Using the FIFO method, compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory.
Answer the above please! Thank you
Data concerning a recent period’s activity in the Assembly Department, the first processing department in a company that uses process costing, appear below:
Materials Conversion Cost of work in process inventory at the beginning of the period $2,900 $590 Equivalent units of production in the ending work in process inventory 380 190 Equivalent units of production required to complete the beginning workin process inventory 580 1,150 Cost per equivalent unit for the period $2.40 $.60
A total of 26,000 units were completed and transferred to the next processing department during the period. Beginning work in process inventory consisted of 2,600 units and`ending work in process inventory consisted of 1,500 units.
Required:
Using the FIFO method, compute the cost of the units transferred to the next department during the period and the cost of ending work in process inventory.
Materials Conversion Total Cost of the units transferred to the next department $0 Cost of ending work in process inventory $0Answer the above please! Thank you
Explanation / Answer
cost of units transferred to the next department: units materials conversion total cost of opening inventory 2600 2900 590 3490 cost of completion of opening inventory 1392 690 2082 cost of the units introdued and completed 23400 56160 14040 70200 26000 60452 15320 75772 cost of ending wip inventory 1500 912 114 1026
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