Oriole Company has the following data available about its November production, its first month of production 50.700 units started and completed, and 10,300 units in ending work in process inventory that are 100% complete for direct materials and 65% complete for conversion costs 1 3 It uses the FIFO method to calculate equivalent units Unit direct materials cost is $16 and unit conversion cost is $23. The total costs to be assigned are $2.296.085. Determine the costs to be assigned to the units transferred out and the units in ending work in process inventory Costs assigned as follows: Completed and transferred out Work in process inventory, ending Direct materials Conversion) Total Cost $

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Oriole Company has the following data available about its November production, its first month of production
50.700 units started and completed, and 10,300 units in ending work in process inventory that are 100% complete for direct
materials and 65% complete for conversion costs
It uses the FIFO method to calculate equivalent units
Unit direct materials cost is $16 and unit conversion cost is $23./The total costs to be assigned are $2.296.085.
1.
2
3
Determine the costs to be assigned to the units transferred out and the units in ending work in process inventory
Costs assigned as follows:
Completed and transferred out
Work in process inventory, ending
Direct materials
Conversion
Total Cost
S
$
Transcribed Image Text:Oriole Company has the following data available about its November production, its first month of production 50.700 units started and completed, and 10,300 units in ending work in process inventory that are 100% complete for direct materials and 65% complete for conversion costs It uses the FIFO method to calculate equivalent units Unit direct materials cost is $16 and unit conversion cost is $23./The total costs to be assigned are $2.296.085. 1. 2 3 Determine the costs to be assigned to the units transferred out and the units in ending work in process inventory Costs assigned as follows: Completed and transferred out Work in process inventory, ending Direct materials Conversion Total Cost S $
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