The assembly division of Gannett Watches, Inc. uses the FIFO method of process c

Question

The assembly division of Gannett Watches, Inc. uses the FIFO method of process costing. Consider the following data for the month of May 2017 ?(Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule Physical Units Flow of Production Work in process, beginning Started during current period To account for Completed and transferred out during current period From beginning work in process Started and completed Work in process, ending Accounted for Equivalent unts of work done in current period Enter any number in the edit fields and then click Check Answer.

Explanation / Answer

Computation of equivalent units for direct material and Conversion cost Flow of Production Physical Units % Completed for Direct Material Equivalent Units % Completed for Conversion Equivalent Units Work in process , beginning 100 Started during current period 487 To Account for 587 Completed and transferred out during current period From beginning work in process 100 5% 5 60% 60 Started and completed 367 100% 367 100% 367 Work in process , ending 120 55% 66 35% 42 Accounted for 587 Equivalent units of work done in current period 438 469 Equivalent Units for Direct Material 438 Equivalent Units for Conversion 469

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.