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FIFO Method, Valuation of Goods Transferred Out and Ending Work in Process Conversion Direct Materials...

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Accounting

FIFO Method, Valuation of Goods Transferred Out and Ending Work in Process
Conversion
Direct Materials
Costs
Units started and completed
25,000
25,000
Units, beginning work in process:
5,0000%
5,00040%
-,2,000
Units, ending work in process:
3,000100%
3,00075%
Equivalent units of output
28,000
[2,250],[29,250]
The cost per equivalent unit for the period was as follows:
\table[[Direct materials,$3.00
image

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