Managerial Accounting
17th Edition
ISBN: 9781260247787
Author: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Publisher: RENT MCG
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Chapter 4.A, Problem 9E
EXERCISE 4A-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method LO4-6, LO4-7, LO4-8
Janene Corporation uses the FIFO method in its
Required:
- Compute the total cost per equivalent unit for the month.
- Compute the equivalent units of material and conversion in the ending inventory;
- Compute the equivalent units of material and conversion that were required to complete the beginning inventory.
- Compute the number of units started and completed during the month.
- Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.
- Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month
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Equivalent Units of Production and Cost per Equivalent Unit—FIFO Method
Required:
Assume that the company uses the FIFO method in its process costing system.
1. Compute the first department’s equivalent units of production for materials, labor, and overhead for the month.
2. Compute the first department’s cost per equivalent unit for materials, labor, overhead, and in total for the month.
Exercise 5S-7 (Algo) Equivalent Units of Production and Cost per Equivalent Unit-FIFO Method [LO 5S-6,
LO 5S-7]
Pureform, Incorporated, uses the FIFO method in its process costing system. It manufactures a product that passes through two
departments. Data for a recent month for the first department follow:
Work in process inventory, beginning
Units started in process
Units transferred out
Work in process inventory, ending
Cost added during the month
Units
66,000
629,000
1. Equivalent units of production
2. Cost per equivalent unit
650,000
45,000
Materials
Materials
$ 54,800
$ 876,820
$ 407,680
$ 439,040
The beginning work in process inventory was 70% complete with respect to materials and 55% complete with respect to labor and
overhead. The ending work in process inventory was 50% complete with respect to materials and 30% complete with respect to labor
and overhead.
Required:
1. Compute the first department's equivalent units of production for materials, labor, and overhead for the…
Exercise 4A-9 (Algo) Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method
(LO4-6, LO4-7, LO4-8]
Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of
operations in one of the company's processing departments:
Units in beginning inventory
Units started into production
Units in ending inventory
Units transferred to the next department
370
4,310
320
4,360
Materials
Conversion
Percentage completion of beginning inventory
Percentage completion of ending inventory
70%
30%
90%
30%
The cost of beginning inventory according to the company's costing system was $7,811 of which $4,806 was for materials and the
remainder was for conversion cost. The costs added during the month amounted to $178,937. The costs per equivalent unit for the
month were:
Materials
Conversion
$23.00
Cost per equivalent unit
$18.00
Required:
1. Compute the total cost per equivalent unit for the month.
2. Compute the equivalent…
Chapter 4 Solutions
Managerial Accounting
Ch. 4.A - EXERCISE 4A-1 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-2 Cost per Equivalent Unit-FIFO Method...Ch. 4.A - EXERCISE 4A-3 Assigning Costs to Units-FIFO Method...Ch. 4.A - EXERCISE 4A-4 Cost Reconciliation Report-EIFO...Ch. 4.A - EXERCISE 4A-5 Computation of Equivalent Units of...Ch. 4.A - EXERCISE 4A-6 Equivalent Units of Production-FIFO...Ch. 4.A - EXERCISE 4A-7 Equivalent Units of Production and...Ch. 4.A -
EXERCISE 4A-8 Equivalent Units of Production—FIFO...Ch. 4.A - EXERCISE 4A-9 Equivalent Units; Equivalent Units...Ch. 4.A - PROBLEM 4A-10 Equivalent Units of Production;...
Ch. 4.A - Prob. 11PCh. 4.A - Prob. 12CCh. 4.B - Prob. 1ECh. 4.B - EXERCISE 4B-2 Step-Down Method LO4-11 Madison Park...Ch. 4.B - Prob. 3ECh. 4.B - EXERCISE 4B-4 Direct Method LO4-10 Refer to the...Ch. 4.B - PROBLEM 4B-5 Step-Down Method L04-11 Woodbury...Ch. 4.B - Prob. 6CCh. 4 - Prob. 1QCh. 4 - In what ways are job-order and process costing...Ch. 4 - Why is cost accumulation simpler in a process...Ch. 4 - How many Work in Process accounts are maintained...Ch. 4 - Prob. 5QCh. 4 - Prob. 6QCh. 4 - Prob. 7QCh. 4 - Prob. 8QCh. 4 - Prob. 1AECh. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - This exercise relates to the Double Diamond Skis’...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Clopack Company manufactures one product that goes...Ch. 4 - Prob. 10F15Ch. 4 - Prob. 11F15Ch. 4 - Prob. 12F15Ch. 4 -
Clopack Company manufactures one product that...Ch. 4 - Prob. 14F15Ch. 4 - Prob. 15F15Ch. 4 - Prob. 1ECh. 4 - Prob. 2ECh. 4 - Prob. 3ECh. 4 - EXERCISE 4-4 Assigning Costs to...Ch. 4 - EXERCISE 4-5 Cost Reconciliation...Ch. 4 - Prob. 6ECh. 4 - Prob. 7ECh. 4 - Prob. 8ECh. 4 -
EXERCISE 4-9 Equivalent Units and Cost per...Ch. 4 - Prob. 10ECh. 4 - Prob. 11ECh. 4 - Prob. 12ECh. 4 - Prob. 13PCh. 4 - Prob. 14PCh. 4 - Prob. 15PCh. 4 - PROBLEM 4-16 Comprehensive...Ch. 4 - Prob. 17PCh. 4 - Prob. 18PCh. 4 - Prob. 19CCh. 4 - (
CASE 4-20 Ethics and the Manager, Understanding...
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