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Use below information for Questions 1 to 4: The smelting department of Company X has following production and...

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Accounting

Use below information for Questions 1 to4:

The smelting department of Company X has following productionand cost data for September:

  • Production: Beginning work in process 200 units that are 100%complete as to materials and 85% complete as to conversion costs;units started into production 1,000 units; units transferred out tonext department

980 units; ending work in process are 100% complete as tomaterials and 41% complete as to conversion costs.

    • Manufacturing costs: Beginning work in process TL8,100materials, TL9,270 labor and TL2,100 manufacturing overhead costs.In current period, TL50,800 worth of materials, TL25,700 worth oflabor and TL35,000 worth of manufacturing overhead costs areincurred.
  • Compute the material cost portion of the ending inventory ifthe company uses WA method to compute equivalent units.
  • Compute the conversion cost portion of the ending inventory ifthe company uses FIFO method to compute equivalent units. method tocompute equivalent units.
  • Compute the material cost portion of the transferred outinventory if the company uses FIFO method to compute equivalentunits.
  • Compute the conversion cost portion of the transferred outinventory if the company uses WA method to compute equivalentunits.

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