Reference no: EM133018993
Question - Wysinco produces bottled sodas in its manufacturing plant. Direct materials are introduced intervals and conversion costs are applied consistently throughout the process. Data for the current period are as follows:
-Beginning work in process inventory: 90,000 units (Completion: 75% for materials and 40% for conversion cost
-Units started in current period 130,000 units
-Ending work in process inventory: 114,000 units (completion: 9% for materials and 60% fr conversion cost)Costs contained in beginning work in process inventory
-Direct materials $589,200
-Conversion costs $443,200Cost added during current period
-Direct materials $2,539,800
-Conversion cost $3,044,800
Required -
-Using the weighted average cost flow assumption: determine the equivalent unit cost, work in progress for direct material and conversion cost.
-Using the FIFO cost flow assumption: determine the equivalent unit cost, work in progress for direct material and conversion cost.
-Outline two differences between job order costing and process costing.
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