he machining department of Splish Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Step 1: Verify physical units in the period and identify degree of completion Physical Units Degree of Completion DM Conversion Costs Units in beginning WIP Inventory 3,200 100% 70% Units started this period 232,200 Total Units to account for 235,400 Units completed and removed from WIP Inventory this period 226,500 Units in ending WIP Inventory 8,900 0% 40% Total units accounted for 235,400 Splish adds its conversion costs evenly throughout the machining process. (a) Determine the equivalent units of production for both DM and conversion costs this year for the Splish machining department under the FIFO method. DM Conversion Costs Total equivalent units of work done this period enter a number of units enter a number of units
he machining department of Splish Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis. Step 1: Verify physical units in the period and identify degree of completion Physical Units Degree of Completion DM Conversion Costs Units in beginning WIP Inventory 3,200 100% 70% Units started this period 232,200 Total Units to account for 235,400 Units completed and removed from WIP Inventory this period 226,500 Units in ending WIP Inventory 8,900 0% 40% Total units accounted for 235,400 Splish adds its conversion costs evenly throughout the machining process. (a) Determine the equivalent units of production for both DM and conversion costs this year for the Splish machining department under the FIFO method. DM Conversion Costs Total equivalent units of work done this period enter a number of units enter a number of units
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 21E: The Converting Department of Tender Soft Tissue Company uses the weighted average method and had...
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he machining department of Splish Manufacturing had a busy year! Management evaluated the stage of completion of ending WIP Inventory and recorded the following in Step 1 of its process costing analysis.
Splish adds its conversion costs evenly throughout the machining process.
|
Step 1: Verify physical units in the period and identify degree of completion
|
||||||
|---|---|---|---|---|---|---|
|
Physical Units
|
Degree of Completion
|
|||||
|
DM
|
Conversion Costs
|
|||||
|
Units in beginning WIP Inventory
|
3,200 | 100% | 70% | |||
|
Units started this period
|
232,200 | |||||
|
Total Units to account for
|
235,400 | |||||
|
Units completed and removed from WIP Inventory this period
|
226,500 | |||||
|
Units in ending WIP Inventory
|
8,900 | 0% | 40% | |||
|
Total units accounted for
|
235,400 |
Splish adds its conversion costs evenly throughout the machining process.
(a)
Determine the equivalent units of production for both DM and conversion costs this year for the Splish machining department under the FIFO method.
|
DM
|
Conversion Costs
|
|||
|---|---|---|---|---|
|
Total equivalent units of work done this period
|
enter a number of units | enter a number of units |
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Determine the equivalent units of production for both DM and conversion costs this year for the Splish machining department under the weighted-average method.
|
DM
|
Conversion Costs
|
|||
|---|---|---|---|---|
|
Total equivalent units of work done this period
|
enter a number of units | enter a number of units |
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