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Bioman Corporation produces chemical products. The following data are from the company's Mixing department: Work in Process, beg. Stage of completion Units Started in Process Work in Process, end. Stage of completion 800,000 30% 700,000 200,000 75% Required: Compute the EUP of materials and conversion costs.

Bioman Corporation produces chemical products. The following data are from the company's Mixing department: Work in Process, beg. Stage of completion Units Started in Process Work in Process, end. Stage of completion 800,000 30% 700,000 200,000 75% Required: Compute the EUP of materials and conversion costs.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 5E: The Converting Department of Worley Company had 2,400 units in work in process at the beginning of...
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Required: Compute the EUP of materials and conversion costs.

A. Using the FIFO method

B. Using the Weighted Average method

Required: Compute the EUP of materials and conversion costs. Bioman Corporation produces chemical products. The following data are from the company's Mixing department: Work in Process, beg. Stage of completion Units Started in Process Work in Process, end. Stage of completion 800,000 30% 700,000 200,000 75% nequired: Compute the EUP of materials and conversion costs.
Transcribed Image Text:Required: Compute the EUP of materials and conversion costs. Bioman Corporation produces chemical products. The following data are from the company's Mixing department: Work in Process, beg. Stage of completion Units Started in Process Work in Process, end. Stage of completion 800,000 30% 700,000 200,000 75% nequired: Compute the EUP of materials and conversion costs.
A. Using the FIFO method B. Using the Weighted Average method 1. Assuming all materials are added at the start of the process and the conversion cost is applied evenly to the process. 2. Assuming all materials are added at the end of the process and the conversion cost is applied evenly to the process. 3. Assuming materials are added 20% at the start of the process, additional 30% when the process is 60% completed , additional 20% when the process is 80% completed and an additional 30% at the end of the process. Conversion cost is applied evenly to the process 4. Assuming materials are added 30% at the start of the process, additional 40% when the process is 50% completed, and an additional 30% at the end of the process. Conversion cost is applied evenly to the process 5. Assuming materials are added 50% at the start of the process, and the balance is added when the process is 80% completed. Conversion cost is applied evenly to the process
Transcribed Image Text:A. Using the FIFO method B. Using the Weighted Average method 1. Assuming all materials are added at the start of the process and the conversion cost is applied evenly to the process. 2. Assuming all materials are added at the end of the process and the conversion cost is applied evenly to the process. 3. Assuming materials are added 20% at the start of the process, additional 30% when the process is 60% completed , additional 20% when the process is 80% completed and an additional 30% at the end of the process. Conversion cost is applied evenly to the process 4. Assuming materials are added 30% at the start of the process, additional 40% when the process is 50% completed, and an additional 30% at the end of the process. Conversion cost is applied evenly to the process 5. Assuming materials are added 50% at the start of the process, and the balance is added when the process is 80% completed. Conversion cost is applied evenly to the process
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