Jarvene Corporation uses the FIFO method in its process costingsystem. The following data are for the most recent month ofoperations in one of the company’s processing departments:
| |
| Units in beginning inventory | 410 |
| Units started into production | 4,310 |
| Units in ending inventory | 310 |
| Units transferred to the next department | 4,410 |
|
| Materials | Conversion |
| Percentage completion of beginning inventory | 60 | % | 40 | % |
| Percentage completion of ending inventory | 90 | % | 30 | % |
|
The cost of beginning inventory according to the company’scosting system was $7,830 of which $4,824 was for materials and theremainder was for conversion cost. The costs added during the monthamounted to $184,110. The costs per equivalent unit for the monthwere:
| Materials | Conversion |
| Cost per equivalent unit | $18.00 | $24.00 |
|
Required:
1. Compute the total cost per equivalent unit for the month.
2. Compute the equivalent units of material and conversion inthe ending inventory.
3. Compute the equivalent units of material and conversion thatwere required to complete the beginning inventory.
4. Compute the number of units started and completed during themonth.
5. Compute the cost of ending work in process inventory formaterials, conversion, and in total for the month.
6. Compute the cost of the units transferred to the nextdepartment for materials, conversion, and in total for themonth.
Complete this question by entering your answers in thetabs below.
- Required 1
- Required 2
- Required 3
- Required 4
- Required 5
- Required 6
Compute the total cost per equivalent unit for the month. (Roundyour answer to 2 decimal places.)
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| | Total cost per equivalentunit | |
|
Complete this question by entering your answers in thetabs below.
- Required 1
- Required 2
- Required 3
- Required 4
- Required 5
- Required 6
Compute the equivalent units of material and conversion in theending inventory.
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| | Materials | Conversion | | Equivalent units | | |
|
Complete this question by entering your answers in thetabs below.
- Required 1
- Required 2
- Required 3
- Required 4
- Required 5
- Required 6
Compute the equivalent units of material and conversion thatwere required to complete the beginning inventory.
|
| | Materials | Conversion | | Equivalent units | | |
|
Complete this question by entering your answers in thetabs below.
- Required 1
- Required 2
- Required 3
- Required 4
- Required 5
- Required 6
Compute the number of units started and completed during themonth.
|
| | Number of units started andcompleted | |
|
- Required 1
- Required 2
- Required 3
- Required 4
- Required 5
- Required 6
Compute the cost of ending work in process inventory formaterials, conversion, and in total for the month. (Round yourintermediate calculations to 2 decimal places.)
|
| | Materials | Conversion | Total | | Cost of ending work inprocess inventory | | | |
|
Compute the cost of the units transferred to the next departmentfor materials, conversion, and in total for the month. (Round yourintermediate calculations to 2 decimal places.)
|
| | Materials | Conversion | Total | | Total cost of unitstransferred out | | | |
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