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Determine the equivalent units of production for material

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Reference no: EM13966320

The Cutting Department of Keigi Company has the following production and cost data for August.

Production

  

Costs

1

 

Started and completed 8,310 units.

 

Beginning work in process

 

$0

2

 

Started 2,080 units that are 40% completed at August 31.

 

Materials

 

51,950

 

 

 

 

Labor

 

14,620

 

 

 

 

Manufacturing overhead

 

21,034

Materials are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Keigi Company uses the FIFO method to compute equivalent units.

A.) Determine the equivalent units of production for (1) materials and (2) conversion costs.

B.) Compute unit costs.

C.) Show the assignment of manufacturing costs to units transferred out and in work in process.

PLEASE ANSWER ALL QUESTIONS! 

Reference no: EM13966320

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