Question

plego comp had the following production into tor sept: BEG WIP (ust done) 10,000 units Startea 120,000 Ena WIP ( 80% done) q, voo BEG WIo cost $68, dos current period cost $ 130,053 Find EnD WIP Value using FIFO 1A A - 6, 888 B 19.00u 9,610 b 10,168 E 12, 710

Answer 1

Corrent answer is A. 6,888 Whole Units Equivalent Units Units accounted for: Beginning Work in Process inventory Started and completed 55% 100% 10,000 111,800 121,800 8.200 130,000 5,500 111,800 117,300 6,560 123,860 80% Ending Work in Process inventory Total units accounted for Direct Materials Current period cost Divided by Total equivalent units Cost per equivalent unit $130,053 123,860 $1.05 $6,888 Ending Work in Process inventory (Equivalent units x Cost per equivalent unit)