This question: 15 pts 100123 (!complete) The assembly division of Stles Watches,

Question

This question: 15 pts 100123 (!complete) The assembly division of Stles Watches, Inc uses the FiFO method of process costing Consider the folowng data for the month of May 2017 (Click the con to view the data ) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule Enter the physical unts in first, then calculate the equivalent unts Equivalent Units Data Table Physical Direct Conversion Flow of Production Units Materials Costs Work in process, beginning Starled during current period To account for Completed and transferred out during current period Physical Units Direct Conversion (Watches) Materials $285,600 Costs $71,250 Begr ring work in process (May 1 Started in May 2017 Completed during May 2017 120 490 440 170 From beginning work in process Ending work in process (May 31) Total costs added during May 2017 Degree of compekri direct matenas 85%, conversan costs, 25% bDegree of oorp mn deed matenals 70%,comersen costs. 40 53 336 100 $1 673 000 Started and completed Work in process, ending Accounted for Equvalent unts of work done in current peniod PrintDone Enter any number in the edit fields and then continue to the next question. Search the web and Windows

Explanation / Answer

Solution :- Statement of equivalent production (FIFO Method)

Conclusion :-

Particulars Output (units) Equivalent units as to Material Equivalent units as to Conversion costs Opening WIP Completed 120 18 [ 120 * (1 - 0.85) ] 90 [ 120 * (1 - 0.25) ] Units completed 320 (440 - 120) 320 (100 %) 320 (100 %) Total 338 410

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