Department R had 4,300 units in work in process that were 66% completed as to labor and overhead at the beginning of the period; 33,500 units of direct materials were added during the period; 34,800 units were completed during the period; and 3,000 units were 37% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was 33,072 42,100 34,800 37,372

Department R had 4,300 units in work in process that were 66% completed as to labor and overhead at the beginning of the period; 33,500 units of direct materials were added during the period; 34,800 units were completed during the period; and 3,000 units were 37% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was 33,072 42,100 34,800 37,372

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...

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Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 80,000 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 17,000 units, 25 percent complete with respect to conversion costs. d. Started in process, 95,000 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method.
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