Flow of Production Physical Units Direct Materials Conversion BB WIP Started in
ID: 2461107 • Letter: F
Question
Flow of Production Physical Units Direct Materials Conversion BB WIP Started in current period Completed & Trsfr-OUT From BB WIP Started & Completed EB WIP Equivalent Units From BB WIP Total Costs DM Ccost Conversion Cost Costs added in current period Cost per equiv unit Assignment of cost From BB WIP Cost added to BB WIP Total BB WIP Started Completed Total cost of compl & Trans out EB WIP Problem 7 (5 Points) Production the first stage a twostage manufacturing process for Sall Company, a restoration data for of - specialist, are as follows : Units BB WIP 5000 Units Direct Materials (75% completel Conversion (40% complete) Units Started during period |31000 Units Costs Incurred during period Direct Materials Conversion EB WIP 4500 Units Direct Materials (80% Complete) Conversion (60% Complete ) Costs $804 $2372 | $5016 | $29946 Required: Prepare the five-step production Cost Report for Sall Inc. using the FIFO process costing method, and compute the cost of good completed and transferred out and the cost of the ending WIP inventory for the current period.Explanation / Answer
Beginning WIP
5,000
Direct materials
conversion
Started in current period
31,000
Units to be accounted
36,000
Completed and transferred
From Beginning WIP
5,000
Started and completed
26,500
Ending WIP
4,500
Units accounted for
36,000
Equivalent units
units
Materials
conversion
Beginning
5,000
1,250 (25%)
3,000(60%)
Started and completed
26,500
26,500
26,500
Ending WIP
4,500
3,600 (80%)
2,700 (60%)
Total units
36,000
31,350
32,200
Total cost
Direct materials
conversion
Beginning
$3,176
804
2,372
Cost added
34,962
5,016
29,946
Total cost
38,138
5,820
32,318
Cost per Equivalent units
.185645933
1.003664596
Cost of goods manufactured and transferred
From beginning inventory
$0
Current cost to complete
3,243
1250*.185645933+
3000*1.003664596
Units started and completed
31,517
26,500* .185645933
26,500*1.003664596
Cost of goods manufactured
34,760
Ending inventory
3,378
3,600*185645933
2700*1.003664596
Total cost
$38,138
Beginning WIP
5,000
Direct materials
conversion
Started in current period
31,000
Units to be accounted
36,000
Completed and transferred
From Beginning WIP
5,000
Started and completed
26,500
Ending WIP
4,500
Units accounted for
36,000
Equivalent units
units
Materials
conversion
Beginning
5,000
1,250 (25%)
3,000(60%)
Started and completed
26,500
26,500
26,500
Ending WIP
4,500
3,600 (80%)
2,700 (60%)
Total units
36,000
31,350
32,200
Total cost
Direct materials
conversion
Beginning
$3,176
804
2,372
Cost added
34,962
5,016
29,946
Total cost
38,138
5,820
32,318
Cost per Equivalent units
.185645933
1.003664596
Cost of goods manufactured and transferred
From beginning inventory
$0
Current cost to complete
3,243
1250*.185645933+
3000*1.003664596
Units started and completed
31,517
26,500* .185645933
26,500*1.003664596
Cost of goods manufactured
34,760
Ending inventory
3,378
3,600*185645933
2700*1.003664596
Total cost
$38,138
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.