Question

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Calculator Use this information about Department to answer the question that follow. Department ) had no work in process at the beginning of the period. 18,000 units were completed during the period, and 2,000 units were 30% completed at the end of the period. The following manufacturing costs were debited to the departmental work in process account during the perio (assume the company uses FIFO and rounds cost per unit to two decimal places): Direct materials (20,000 at $5) Direct labor Factory overhead $100,000 142,300 57,200 Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the 18,000 units completed during the period? a. $90,000 b. $283,140 Oc $193,140 d. $16,438

Answer 1

Answer 1 - dept. 3
FIFO Method:
		Equivalent Units
		DM		Conversion costs
	Whole units	%	Units	%	Units
Opening WIP	0
Started	20000
Total Units to account for	20000
Opening WIP	0
Completed and tfd.	18000	100	18000	100	18000
Closing WIP	2000	100	2000	30	600
Total Units to account for ( EUP)	20000		20000		18600
Cost Information
Costs to account for:	Materials	Conversion	Total
Op. WIP
Added during the period	100000	199500	299500
Total costs to account for	100000	199500	299500
Cost per EUP :-
Cost to be accounted for	100000	199500	299500
EUP	20000	18600
Cost per EUP	5	10.72580645	15.72580645
Cost of completed units:-	18000 * 15.7258
	283064.5161	is closest to 283140
	Option B is correct.
Answer 2 - carmelita Inc.
FIFO Method:
		Equivalent Units
		DM		Conversion costs
	Whole units	%	Units	%	Units
Opening WIP	500
Started	5500
Total Units to account for	6000
Opening WIP	500	0	0	55	275
Completed and tfd.	5100	100	5100	100	5100
Closing WIP	400	100	400	29	116
Total Units to account for ( EUP)	6000		5500		5491	Option D
Answer 3
WIP	608600
Factory Overhead		608600
Option D Is correct.
Answer 4
Option D Is correct.