Beginning inventory (30% complete as to Material B and 60% complete for conversion) 700 units Started this cycle 2,000 units Ending inventory (50% complete as to Material B and 80% complete for conversion) 500 units Beginning inventory costs: Material A $14,270 Material B 5,950 Conversion 5,640 Current Period costs: Material A $40,000 Material B 70,000 Conversion 98,100 Material A is added at the start of production, while Material B is added uniformly throughout the process. Refer to Campbell Corporation. Assuming a FIFO method of process costing, compute the average cost per EUP for Material A and B.
Beginning inventory (30% complete as to Material B and 60% complete for conversion) 700 units Started this cycle 2,000 units Ending inventory (50% complete as to Material B and 80% complete for conversion) 500 units Beginning inventory costs: Material A $14,270 Material B 5,950 Conversion 5,640 Current Period costs: Material A $40,000 Material B 70,000 Conversion 98,100 Material A is added at the start of production, while Material B is added uniformly throughout the process. Refer to Campbell Corporation. Assuming a FIFO method of process costing, compute the average cost per EUP for Material A and B.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 3RE: Shaquille Corporation began the current year with inventory of 50,000. During the year, its...
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Campbell Corporation
Beginning inventory (30% complete as to | ||
Material B and 60% complete for conversion) | 700 | units |
Started this cycle | 2,000 | units |
Ending inventory (50% complete as | ||
to Material B and 80% complete for conversion) | 500 | units |
Beginning inventory costs: | ||
Material A | $14,270 | |
Material B | 5,950 | |
Conversion | 5,640 | |
Current Period costs: | ||
Material A | $40,000 | |
Material B | 70,000 | |
Conversion | 98,100 |
Material A is added at the start of production, while Material B is added uniformly throughout the process.
Refer to Campbell Corporation. Assuming a FIFO method of
Select one:
a. $31.00
b. $31.25
c. $20.00
d. $20.10
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