Could you tell me step-by-step explanations Thanks. Spuds Chips Ltd (SCL) processes crinkle-cut...
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Could you tell me step-by-step explanations Thanks.
Spuds Chips Ltd (SCL) processes crinkle-cut potato chips. Production requires three (3) processes: Cutting, Cooking and Packaging. In the Cooking Department direct materials, vegetable oil (90%), is added to the transferred-in cut potatoes from the cutting department to cook. At the end of the process, the remaining 10% of the direct materials, herbs and spices are added. The company uses theFirst-in, First-out (FIFO)method. Production data for the Cooking Department in June are as follows:
Cooking Department
Beginning WIP#inventory (kg)
24,000
Beginning WIP inventory costs
Transferred-in materials
(? %complete)
$4,800
Materials(? %complete)
$1200
Conversion (70% complete)
$2,520
June data
Started (kg)
258,000
June costs
Transferred-in costs
$51,600
Materials
$15492
Conversion
$37,140
Completed and Transferred-out (kg)
260,000
Ending WIP inventory(kg)
? units
Conversion (20% complete)
WIP: Work in process
Required:
1.Assigning (a) a quantity (physical flow) schedule and (b) compute the equivalent units for all inputs.
2. Calculate the costs per equivalent unit for all inputs.Round up your answers to the nearest cent.
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