Duday Company manufactures Product ABC in a two- stage production cycle in Department 1 and 2. Materials are added at the end of the process in Department 2. Conversion costs for Department 2 were 50% complete as to the 6,000 units in Beginning WIP and 75% complete as to the to the 8,000 units in ending WIP, 12,000 units were completed and transferred out Department 2 during October. An analysis of the cost relating to WIP and production activity in Department 2 for October follows: Transferred in cost Materials Cost Conversion Cost Beg. WIP Cost Cost Added 12,000 2,500 1,000 29,000 5,000 5,000 Compute the total cost per unit transferred-out for October of Product ABC using FIFO.

Duday Company manufactures Product ABC in a two- stage production cycle in Department 1 and 2. Materials are added at the end of the process in Department 2. Conversion costs for Department 2 were 50% complete as to the 6,000 units in Beginning WIP and 75% complete as to the to the 8,000 units in ending WIP, 12,000 units were completed and transferred out Department 2 during October. An analysis of the cost relating to WIP and production activity in Department 2 for October follows: Transferred in cost Materials Cost Conversion Cost Beg. WIP Cost Cost Added 12,000 2,500 1,000 29,000 5,000 5,000 Compute the total cost per unit transferred-out for October of Product ABC using FIFO.

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Description: Show the solution in good accounting form Duday Company manufactures Product ABC in a two- stage production cycle in Department 1and 2. Materials are added at the end of the process in Department 2. Conversion costs forDepartment 2 were 50% complete

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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