Jarvene Corporation uses the FIFO method in its process costing system. The following data are...
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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 390 4,270 320 4,340 Materials Conversion Percentage completion of beginning inventory Percentage completion of ending inventory 70% 808 30% The cost of beginning inventory according to the company's costing system was $7,821 of which $4,894 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $177,887. The costs per equivalent unit for the month were Materials Conversion Cost per equivalent unit $18.00 $23.00 Required: 1. Compute the total cost per equivalent unit for the month 2. Compute the equivalent units of material and conversion in the ending inventory 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. 4. Compute the number of units started and completed during the month 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month Required 1Required 2 Required 3 Required 4 Required 5 Required 6 Compute the total cost per equivalent unit for the month. (Round your answer to 2 decimal places.) Total cost per equivalent unit Required 1 Required 2 Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Compute the equivalent units of material and conversion in the ending inventory Materials Conversion Equivalent units Required 1 Required 3 Required 1 Required 2 Required 3Required 4 Required 5 Required 6 Compute the equivalent units of material and conversion that were required to complete the beginning inventory Materials Conversion Equivalent units Required 2 Required 4 Required 1 Required 2 Required 3 Required 4Required 5 Required 6 Compute the number of units started and completed during the month Number of units started and completed Required 3 Required 5> Required 1 Required 2 Required 3Required 4Required 5Required 6 Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of ending work in process inventory K Required 4 Required 6> Required 1Required Required 3Required 4 Required 5Required 6 Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.) Materials Conversion Total Total cost of units transferred out Required 5 Required 6
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