Question

D. Cost of the units startean co Ex 17-12 Cost of units completed and in process A. Based on the data in Exercise 17-11, determine the following: 1. $21,808 1. Cost of beginning work in process inventory completed this period 2. Cost of units transferred to finished goods during the period 3. Cost of ending work in process inventory 4. Cost per unit of the completed beginning work i n process inventory, nearest cent e production costs change from the preceding period? Explain. B.Did th C. Assuming that the direct materials cost per unit did not change from the preceding did the conversion costs per equivalent unit increase, decrease, or remain the same fo current period? FX 17.13 Frrors in equivalent unit computation Ob 1

Answer 1

As per FIFO method, out of completed units , beginning WIP shall be considered as completed first and their cost will be

Opening cost of WIP + cost incurred this period / beginning WaiP completed

2. Units transferred to finished goods shall comprise of opening WIP completed during this period + units started and completed this period only

Cost of units transferred = cost of beginning WIP + cost incurred this period except ending WIP cost

3 . Cost of ending WIP = percentage completion of material x material cost incurred during the period + percentage completion of conversion cost x conversion cost incurred during the period

4. Cost per unit of completed beginning WIP = cost of beginning WIP+ cost incurred on beginning WIP during the period / beginning WIP.

Note :- please note that numerical calculation of all the above items can be done only if data in 17.11 is given

B . Not possible to be explained without the data in 17.11

C . Not possible to be explained without the help of data in 17.111