QUESTION 14 NSPI a chemical manufacturing company The following data pertains to

Question

QUESTION 14 NSPI a chemical manufacturing company The following data pertains to its Production Dep Accounting period is January 20xX Beg work in process (BWIP) Percentage of completion BWIP % Costs of BWIP Added (Started) Cost of added Completed & Transferred Out (CTO)u End work in process (EWIP) CC are added proportionally over the process No Spoilage or Defective units M Material: CC Conversion Costs units(u 200 100% 40% $2,000 $2,000 800 $22,000 $44,000 900 100% 70% Using FIFO A. $63,789 B. $71.42 C. $6,211 D. 800 E. $5,720 F. 200 G. 890 H. 120 . $77.00 J. 100 YUnits in EWIP Equivalent units for CC Cost per equivalent units, total Cost of completed and transferred out YCost for ending WIP $64,280

Explanation / Answer

1.

Units in ending WIP=100 units

Explanation:

Units in ending WIP=beginning units+units added -completed and transferred out.

=200 +800-900

=100 units

2.

Equivalent units for CC=890 units

Explanation :

3.

Costs per equivalent unit , total=$76.94 or $77

Explanation:

$27.50

(22000/800)

$49.44

(44000/890)

4000+5933+53858+3461

4. Cost of complete and transferred out=$63,789

Explanation:

5. Cost for ending WIP =$6,211

Explanation:

=(100×$27.50)+(70×$49.44)

=$2750+$3461

=$6211

Material conversion cost Units to complete beginning WIP 0 120(60%×200) Units started and completed 700 700 Units in ending WIP 100 70(100×70%) Equivalent units 800 890

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