Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please explain clearly, thank you. [the following

Please explain clearly, thank you. [The following information applies to the questions displayed below.)...

60.1K

Verified Solution

Question

Accounting

image

Please explain clearly, thank you.

[The following information applies to the questions displayed below.) The Matsui Lubricants plant uses the FIFO method to account for its work-in-process inventories. The accounting records show the following information for a particular day. $ 975 542 Beginning WIP inventory Direct materials Conversion costs Current period costs Direct materials Conversion costs 23,520 16,555 Quantity information is obtained from the manufacturing records and includes the following. Beginning inventory Current period units started Ending inventory 750 units (60% complete as to materials, 56% complete as to conversion) 5,800 units 2,000 units (40% complete as to materials, 30% complete as to conversion) Required: a. Compute the equivalent units for the materials and conversion cost calculations. b. Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method. Complete this question by entering your answers in the tabs below. Required A Required B Compute the equivalent units for the materials and conversion cost calculations. Equivalent units for materials Equivalent units for conversion costs

Answer & Explanation Solved by verified expert
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

Other questions asked by students

Biology
1.2K views

the question 2 Which of the following would you most likely use to bend a...

Biology
1.2K views

1 po 3 1 The diagram below represents a small section of a DNA molecule...

Physics
1.2K views

For different values of resistance R power consumptions in Rare given Then which of the...

Physics
1.2K views

If the fundamental frequency of a closed organ pipe is 110 Hz If it produces...

Physics
1.2K views

v 8 A copper sphere attached to the bottom of a vertical spring is oscillating...

Statistics
1.2K views

A college entrance exam company determined that a score of 22 on the mathematics portion...

Calculus
1.2K views

The graph of one complete period of a sine curve is given y period 3...

Calculus
1.2K views

Find ff f x y dA where f x y x and R 4 8...

Algebra
1.2K views

Sienna has 80 yards of fencing to enclose a rectangular area Find the dimensions of...

Algebra
1.2K views

Suppose h x For each function f x below find a function g x so...

Accounting
1.2K views

El siguiente cuadro de informacin se relaciona con Lumos, Inc. para el ao terminado el...

Accounting
1.2K views

Can you also explain to me why Gross Pay through August and Gross Pay through...