During april the production department of a process

Assignment Help Accounting Basics

Reference no: EM13605478

During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 30,000 were in process in the production department at the beginning of April and 120,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to labor. At the end of April, 41,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to labor. The production department had $425,184 of direct materials and $326,151 of direct labor cost charged to it during April. Also, its beginning inventory included $59,236 of direct materials cost and $22,794 of direct labor.

a)Compute the direct materials cost and the direct labor cost per equivalent unit for the department using the FIFO method

b)Using the FIFO method, assign April's costs to the department's output-specifically, its units transferred to finished goods and its ending goods in process inventory.

Reference no: EM13605478

Questions Cloud

A spherical ballon with a diameter of 6m is filled with : a spherical ballon with a diameter of 6m is filled with helium at 20c and 200kpa. determine the mole number and the

Dec 1 purchased merchandise inventory in the amount of 5000 : prepare the adjusting entry needed at december 31 prior to closing the accounts. use one entry for all three notes. do

Sanker inc has provided the following data for the month of : sanker inc. has provided the following data for the month of august. there were no beginning inventories consequently

At year-end the per-unit replacement cost of this tree is : prepare the journal entries required to adjust the inventory records at year-end assuming that marios uses the first-in

During april the production department of a process : during april the production department of a process manufacturing system completed a number of units of a product and

Financial statement restatement please respond to the : 1. financial statement restatement please respond to the followinga. restatements of financial statements should be a

A department had 600 units which were 40 complete in : a department had 600 units which were 40 complete in beginning goods in process inventory. during the current period

A 10 ft long chain rests on a frictionless horizontal : a 10 ft long chain rests on a frictionless horizontal table such that half of its length is stretched out on the table

Smitty museum purchased the copyright to a piece of artwork : smitty museum purchased the copyright to a piece of artwork for 922000. smitty plans to reproduce 1.8 million posters

User Account

All Pages