value 16.70 points Silver Company manufactures kites and has the following infor

Question

value 16.70 points Silver Company manufactures kites and has the following information available fa the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) 50,000 units Direct materials Conversion cost $ 78,000 $ 108,000 Number of units started 156,000 units April costs Direct materials Conversion cost 224,000 334,000 Work in process, April 30 (100% complete for materials, 20% for conversion) 79,000 units Required: Using the FIFO method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period.

Explanation / Answer

2. Number of Equivalent Units :

3.

4.

Physical Units Direct Materials Conversion Beginning Inventory 50,000 0 30,000 Started and Completed 77,000 77,000 77,000 Ending Inventory 79,000 79,000 15,800 206,000 156,000 122,800

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