Reference no: EM132520794

Malfoy Industries, who uses the FIFO method of process costing, manufactures products in three sequential processes: Molding, Plating, and Finishing. In the Plating process, direct materials are added at the beginning of the process, while conversion costs are incurred evenly throughout the process. The normal spoilage rate in the Plating process is 1% of good units produced. Malfoy provided the following information about the Plating process in June:

Work-in-Process Inventory                  Beginning                      Ending

Units                                              700                                   900

Percent of Process Complete                30%                               60%

Costs Incurred                             Beginning Work-in-Process               Current Period

Transferred-In Costs                              $1,500                               $9,350

Direct Materials Costs                             $2,330                           $17,820

Conversion Costs                                  $1,025                            $11,823

Units Started Completed and Transferred Out

Units                    5,500                      5,200

Find the following:

Question a. Cost/equivalent unit for transferred-in costs

Question b. Cost/equivalent unit for direct materials

Question c. Cost/equivalent unit for conversion costs

Question d. The value of good units completed and transferred out

Question e. The value of abnormal spoilage

Question f. The value of ending work in process inventory