Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the...

60.1K

Verified Solution

Question

Accounting

Betty DeRose, Inc. operates two departments, the handling department andthe packaging department. During April, the handling department reportedthe following information:                      % complete   % complete                units     DM      conversion work in process, April 1    17,000    46%       77%units completed during April  46,000work in process, April 30    23,000    29%       14%The cost of beginning work in process and the costs added during Aprilwere as follows:                 DM     Conversion    Total costwork in process, April 1   $121,279    $203,056     $324,335costs added during April    363,285    227,619     590,904total costs          484,564    430,675     915,239Calculate the total cost of the handling department's work in processinventory at April 30 using the FIFO process costing method.

Answer & Explanation Solved by verified expert

4.4 Ratings (623 Votes)

Cost of ending inventory 74313 Working STEP 1 FIFO Reconciliation of Units Units already completed completed this period Material Conversion cost Material Conversion cost Beginning WIP 17000 46 77 54 23 Units introduced 52000 Total units to be accounted for 69000 Completed and Transferred unit 46000 0 0 100 100 Ending WIP 23000 0 0 29 14 STEP 2 FIFO Equivalent Units Total See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member