Taco Ranch uses a process cost system and the FIFO cost flow assumption. Production begins in the Crafting Department where direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. On November 1, the beginning Work in Process inventory consisted of 10,000 units which were 60% complete and had a cost of $190,000, $100,000 of which were direct materials costs. During November, the following occurred: Direct materials added $225,000 Conversion costs incurred $45,000 Units completed and transferred out in November 40,000 Units in ending Work in Process inventory November 30 (20% complete) 25,000 Answer the following questions and show the computations that support your answers. a) What are the equivalent units of production for direct materials and conversion costs in the

Builder Products, Incorporated, uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May: Production data: Pounds in process, May 1; materials 100% complete; conversion 80% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 60% complete; conversion 20% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 10,000 100,000 ? 15,000 $ 1,500 $ 7,200 Check my work $ 154,500 $ 90,800 Required: 1. Compute the equivalent units of production for materials and conversion for May. 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May.…

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The Converting Department of Comfy Touch Towel and Tissue Company had 2,600 units in work in process at the beginning of the period, which were 35% complete. During the period, 23,800 units were completed and transferred to the Packing Department. There were 7,400 units in process at the end of the period, which were 60% complete. Direct materials are placed into the process at the beginning of production. Determine the number of equivalent units of production with respect to direct materials and conversion costs. If an amount box does not require an entry, leave it blank. Comfy Touch Towel and Tissue Company Number of Equivalent Units of Production Inventory in process, beginning Started and completed Transferred to Packing Department Inventory in process, ending Total Whole Units Direct Materials Equivalent Units Conversion Equivalent Units

Lazada Inc. adds materials at the beginning of the process in department USB.  Conversion costs were 70% complete as to the 9,500 work-in-process units on September 1 and 40% incomplete as to the 7,000 work-in-process units on September 30.  During September, 12,000 units were completed and transferred to the next department.  An analysis of the cost relating to work-in-process on September 1 and to production activity for September is as follows: Work-in-process, September 1Materials                                          P10,000Conversion Costs                             P12,000Costs incurred during SeptemberMaterials                                          P45,000Conversion Costs                             P60,000The total cost per equivalent unit for September under FIFO is:

The Cutting department of Heart Corporation in the month of March started with beginning work in process of 4,000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 10,000 units. Ending work in process contains 1,000 units that are 100% complete as to materials and 60% complete as to conversion costs. Instructions: Compute the equivalent units of production for materials and conversion costs for the month of March. Compute the equivalent units of production for materials and conversion costs for the month of March.

Eagles Ltd. uses process costing in its Fabricating Department. At the beginning of October, it had 12,000 units in beginning work-in-process that were 40% complete with respect to conversion. During October, it put 87,000 units into production and completed 89,000 good units. On October 31, there were 3,000 units in ending work- in-process that were 70% complete with respect to conversion. Direct materials are added at the beginning of the process. Inspection occurs at the end of the process, and normal spoilage is 6% of good output. Costs related to the beginning inventory were $36,800 for direct materials and $28,600 for conversion costs. During the month, the company issued $280,000 of direct materials and incurred $599,400 of conversion costs. Assuming Eagles uses the weighted average method of process costing, the cost per equivalent unit for direct materials and conversion costs, respectively, are O a. $3.20; $6.40 b. $3.44; $6.89