FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following table was taken from Firm X's Production Cost Report:
Completed and transferred out units | 38,000 |
---|---|
Ending work-in-process equivalent units | 5,400 |
Beginning work-in-process equivalent units | 11,600 |
What is the number of FIFO equivalent units?
Multiple Choice
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31,800.
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43,400.
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44,200.
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32,600.
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49,600.
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- C) what's is the cost per equivalent unit for materials ? ( round your answer to 2 decimal places.) D) what is the cost equivalent unit for conversion? (Round your answer to 2 decimal places.) E) what is the cost of units transferred out? (Round your cost per equivalent unit to 2 decimal places.)arrow_forwardof 3 bok nt ant ences Required information Gable Company uses three activity pools. Each pool has a cost driver. Information for Gable Company follows: Activity Pools Machining Designing costs Setup costs Number of machine hours Number of design hours. Number of batches Total Cost of Pool $ 222,420 55,900 72,726 Product A Product B Product C Cost Driver Number of machine hours Number of design hours Number of batches Suppose that Gable Company manufactures three products, A. B, and C. Information about these products follows: Product A 24,000 Product C 9,400 2,600 60 2,400 265 Total Overhead Assigned Product B 34,000 1,500 180 Required: 1. Using activity proportions, determine the amount of overhead assigned to each product. Note: Do not round your intermediate calculations. Round your final answers to nearest whole number. Estimated Cost Driver 67,400 6,500arrow_forwardPart B: Assuming Wildhorse uses the FIFO method of process costing, complete Step 4 to determine its cost per equivalent unit for both DM and conversion costs. (Round cost per equivalent unit answers to 2 decimal places, e.g. 15.25.) DM Conversion Costs Total equivalent units of work done this period (FIFO) 29,000 26,000 STEP 4 Calculate Cost Per Equivalent Unit DM Conversion Cost select an item Correct answer $enter a dollar amount Correct answer $enter a dollar amount Correct answer select an item Correct answer enter a number of unitsCorrect answer enter a number of unitsCorrect answer select a closing name Correct answer $enter a dollar amount rounded to 2 decimal places $enter a dollar amount rounded to 2…arrow_forward
- Arntson, Incorporated, manufactures and sells two products: Product R3 and Product NO. The annual production and sales of Product of R3 is 800 units and of Product NO is 500 units. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Product R3 Product NO Total direct labor-hours Activity Cost Pools Labor-related Production orders. Order size Direct Labor- Expected Hours Per Production 800 500 The direct labor rate is $20.80 per DLH. The direct materials cost per unit is $276.00 for Product R3 and $280.00 for Product NO. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Overhead Cost Activity Measures DLHS orders MHS Unit 4.0 2.0 Total Direct Labor- Hours 3,200 1,000 4, 200 $ 40,836 64, 650 433, 275 $ 538,761 Expected Activity Product R3 Product No 1,000 3,200 900 500 2,500 3,100…arrow_forwardPlease help me with correct answer thankuarrow_forwardshow Total Period cost by using absorption costing.arrow_forward
- Compute conversion costs given the following data: direct materials, $356,600; direct labor, $196,300; factory overhead, $194,500 and selling expenses, $40,900. a.$390,800 b.$153,600 c.$551,100 d.$747,400arrow_forwardBeginning work in process (40% complete) Direct materials. Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (75% complete) Current period costs Direct materials Conversion cost Total current period costs a. Reconcile the number of physical units worked on during the period. b. Calculate the number of equivalent units. Required: 1. Using FIFO method of process costing, complete each of the following steps: c. Calculate the cost per equivalent unit. d. Reconcile the total cost of work in process. Complete this question by entering your answers in the tabs below. Req 1A Req 1B Req 1C Units Req 1D ? 35,900 34,300 21,350 Costs $ 1,331,500 620,800 $ 1,952,300 $ 2,397,400 1,261,500 $ 3,658,900 Using FIFO method of process costing, reconcile the total cost of work in process. Note: Use Equivalent Units rounded to the nearest whole unit and Cost per Equivalent Unit rounded to 5…arrow_forwardPlease do not give solution in image format thankuarrow_forward
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