ETTERER Engine Corporation manufactures a single model of gasoline engine used in lawn mowers, portable genereators and pumps. The basic engine block is cast from steel and machined in the Casting Department. Then it is trasferred to the Assembly Department, where the crank shaft, valves and other component parts are added. After assembly, it it transferred to the finishing department where the engine is tested. Data related to February operations are: Quantity data: Casting Assembly Finishing WIP, beg 500 1,000 300 Stage of completion 25% 50% 50% TransferredtonextDept 2,700 2,900 2,800 WIP, end 800 800 400 Stage of Completion 90% 40% 50% Cost data: WIP, beg Cost from preceding dept 63,150 42,840 Materials 10,925 40,258 Direct labor 338 12,426 2,760 FOH 2,839 12,426 4,140 Factory Costs: Materials 146,575 116,480 Direct Labor 16,362 44,408 12,240 FOH 48,461 44,408 18,360
ETTERER Engine Corporation manufactures a single model of gasoline engine used in lawn mowers, portable genereators and pumps. The basic engine block is cast from steel and machined in the Casting Department. Then it is trasferred to the Assembly Department, where the crank shaft, valves and other component parts are added. After assembly, it it transferred to the finishing department where the engine is tested. Data related to February operations are: Quantity data: Casting Assembly Finishing WIP, beg 500 1,000 300 Stage of completion 25% 50% 50% TransferredtonextDept 2,700 2,900 2,800 WIP, end 800 800 400 Stage of Completion 90% 40% 50% Cost data: WIP, beg Cost from preceding dept 63,150 42,840 Materials 10,925 40,258 Direct labor 338 12,426 2,760 FOH 2,839 12,426 4,140 Factory Costs: Materials 146,575 116,480 Direct Labor 16,362 44,408 12,240 FOH 48,461 44,408 18,360
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Using FIFO compute for the Equivalent unit for Finishing Department.
BETTERER Engine Corporation manufactures a single model of gasoline engine used in lawn mowers, portable genereators and pumps. The basic engine block is cast from steel and machined in the Casting Department. Then it is trasferred to the Assembly Department, where the crank shaft, valves and other component parts are added. After assembly, it it transferred to the finishing department where the engine is tested. Data related to February operations are:
| Quantity data: | Casting | Assembly | Finishing |
| WIP, beg | 500 | 1,000 | 300 |
|
Stage of completion |
25% | 50% | 50% |
|
TransferredtonextDept |
2,700 | 2,900 | 2,800 |
| WIP, end | 800 | 800 | 400 |
| Stage of Completion | 90% | 40% | 50% |
| Cost data: | |||
| WIP, beg | |||
| Cost from preceding dept | 63,150 | 42,840 | |
| Materials | 10,925 | 40,258 | |
| Direct labor | 338 | 12,426 | 2,760 |
| FOH | 2,839 | 12,426 | 4,140 |
| Materials | 146,575 | 116,480 | |
| Direct Labor | 16,362 | 44,408 | 12,240 |
| FOH | 48,461 | 44,408 | 18,360 |
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education