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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Ferris Corporation
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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
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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)
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Direct labor
77,300
Manufacturing overhead
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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...
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Kipling Manufacturing, Inc., operates a plant that produces its own
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in two processes, blending and bottling. In the Blending
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process, and labor and overhead are incurred evenly throughout the
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Question 4 Not yet answered Marked out of 1,00 P Flag question Calculate Equivalent Units, Unit Costs,...
e.com/platform/mod/quiz/attempt.php?attempt-23468068cid 1691668page 58scrollpos-440 nu Equivalent Units Calculations-FIFO Method Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Ferris uses the FIFO method of process costing. In the Compounding Department, beginning work in process was 14,000 pounds (65% processed), 129,500 pounds were started in process, 126,000 pounds transferred out, and ending work in process was...
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
of it. Help is much appreciated.
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Okay, so I did quite a bit of this, but I got stuck on like the
last quarter.
Product Cost Report-FIFO Method Reston Manufacturing Corporation produces a cosmetic product in three consecutive processes. The costs of Department 1 for May 2016 were as follows: Cost of beginning inventory Costs added in Department 1 Finis $606,390 Direct material $80,400 Direct labor 81,550 Manufacturing overhead__ overhead 55,130 Department 1 handled the following units during May: Units in process, May Units started in...
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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
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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
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Question 4 Not yet answered Marked out of 1,00 P Flag question Calculate Equivalent Units, Unit Costs,...
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