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Saba enterprises had 250 units in beginning WIP which were 80% complete with regard to...

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Accounting

Saba enterprises had 250 units in beginning WIP which were 80% complete with regard to conversion costs. 9,250 units were added during the period. 8,000 units were completed. Ending WIP was 100% complete with regard to material and 60% complete with regard to conversion. Beginning WIP amounted to $3,500 of which $1,000 was for conversion. Costs added amounted to $132,280 of which $94,870 was for materials.

Required:

1. Compute cost of goods completed and cost of WIP ending using weighted average price method.

2. Compute cost of goods completed and cost of WIP ending using FIFO method.

3. Determine cost per unit of completed goods for last period and this period under both FIFO and weighted average price methods.

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