I guess I am just confused with mostly how to get the Ending
Inventory column. Any help is appreciated
Homework Answers
Computation of ending inventory in FIFo method in march
__________________________________________________________
Given:
Begining work in process = 4000 pounds
Started in process = 37000 pounds
Transferred out = 36000 pounds
Ending inventory = 60%
Ending inventory = begining work in process units
+ Started in process units
- transferred out units
= 4000+37000-36000
= 5000 pounds
Ending inventory = 5000 pounds
Total equipment units =begning work in process +
Started and completed +
Closing inventory
= 4000 +32000+ 5000
= 41000 pounds
Equivalent units for direct material
___________________________________
Closing inventory for
direct material = it is given that direct material
Added at the beginning of the
Process so take it as 100%
For equivalent units
Ending inventory = 5000 pounds for direct material
Total equivalent units
For direct material = 32000+5000
= 37000 pounds
Equivalent units for convertion cost
____________________________________
Ending inventory = 5000pounds *60%
= 3000 pounds
Total equivalent units
For convertion cost = 1200+32000+3000
= 36200 pounds
Add Answer to:
I guess I am just confused with mostly how to get the Ending Inventory column. Any...
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% Work
Done?
Direct
Materials
% Work
Done?
Conversion
Costs
Beginning Inventory
Answer
Completed/Transferred
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Answer
Answer
Answer
Answer
Started
Answer
Ending Inventory
Answer
Answer
Answer
Answer
Answer
Total
Answer
Total
Answer
Answer
Answer
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work in process account of the first of Olympus Company’s four
departments used in manufacturing its only product.
Work in Process-Department 1
Beginning balance (3,000 units, 40% complete)
$18,200
Transferred to department 2: (23,000 units)
(a)
Direct material (24,000 units)
96,000
Direct labor
77,300
Manufacturing overhead
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Ending balance [ (b) units, 25% complete]
(c)
Assuming that Olympus uses the FIFO method,...
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in two processes, blending and bottling. In the Blending
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Ferris Corporation
Flow of Units and Equivalent Units Calculation,
March 2019
Equivalents Units
Where do the units come from?
Where do the units go?
% Work
Done?
Direct
Materials
% Work
Done?
Conversion
Costs
Beginning Inventory
Answer
Completed/Transferred
Answer
Answer
Answer
Answer
Answer
Started
Answer
Ending Inventory
Answer
Answer
Answer
Answer
Answer
Total
Answer
Total
Answer
Answer
Answer
EXERCISES-SET A E4-1A. Equivalent Units Calculations-Weighted Average Method Ferris Corporation makes a powdered L03 rug shampoo in two sequential departments, Compounding and...
I figured out some of this but I am stuck on like the last half
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Okay, so I did quite a bit of this, but I got stuck on like the
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Equivalent Units and Product Cost Report—FIFO
Method
The following data (and annotations) for March 2016 are for the
work in process account of the first of Olympus Company’s four
departments used in manufacturing its only product.
Work in Process-Department 1
Beginning balance (3,000 units, 40% complete)
$18,200
Transferred to department 2: (23,000 units)
(a)
Direct material (24,000 units)
96,000
Direct labor
77,300
Manufacturing overhead
36,700
Ending balance [ (b) units, 25% complete]
(c)
Assuming that Olympus uses the FIFO method,...
Calculate Equivalent Units, Unit Costs, and Transferred Costs—FIFO Method Kipling Manufacturing, Inc., operates a plant that produces its own regionally-marketed Super Salad Dressing. The dressing is produced in two processes, blending and bottling. In the Blending Department, all materials are added at the beginning of the process, and labor and overhead are incurred evenly throughout the process. Kipling uses the FIFO method. The Work in Process- Blending Department account for January 2016 follows: Work in Process - Blending Department January...
Kipling Manufacturing, Inc., operates a plant that produces its own
regionally-marketed Super Salad Dressing. The dressing is produced
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Department, all materials are added at the beginning of the
process, and labor and overhead are incurred evenly throughout the
process. Kipling uses the FIFO method. The Work in Process—Blending
Department account for January 2016 follows:
Question 4 Not yet answered Marked out of 1,00 P Flag question Calculate Equivalent Units, Unit Costs,...
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