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What is the equivalent units of production for material

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Reference no: EM133184650

Question - The following information will be used for the next six questions

Exciting Company has the following information for July:

Units started 100,000 units

Beginning Work in Process (35% complete) 25,000 units

Normal spoilage (discrete) 3,500 units

Abnormal spoilage 5,000 units

Ending Work in Process (70% complete) 14,500 units

Transferred out 102,000 units

Beginning Work in Process Costs:

Material P15,000.00

Conversion P10,000.00

Current Costs:

Material P100,000.00

Conversion P164,662.50

All materials are added at the start of the production process. Exciting Company uses FIFO method in costing the homogenous products and inspects such products at 75 percent completion as to conversion.

Listed below are the requirements for this data set. Fill-up your answers in the next six questions.

What is the equivalent units of production for material?

What is the equivalent units of production for conversion costs?

What is the assigned cost per EUP for conversions costs?

What is the amount of the period cost for July?

What is the total cost assigned to the transferred-out units?

What is the total cost assigned to the ending inventory?

Reference no: EM133184650

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