Costs from Beginning Inventory Costs from Current Period Direct materials $5,300 $29,000 Conversion costs 6,700 147,100 At the beginning of the period, there were 500 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,900 units were started and completed. Ending inventory contained 400 units that were 22% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were
Costs from Beginning Inventory Costs from Current Period Direct materials $5,300 $29,000 Conversion costs 6,700 147,100 At the beginning of the period, there were 500 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,900 units were started and completed. Ending inventory contained 400 units that were 22% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO process cost method. Round cost per unit figures to two cents, i.e., $2.22, when calculating total costs. The total costs that will be transferred into Finished Goods for units started and completed were
Chapter5: Process Costing
Section: Chapter Questions
Problem 14PB: Rexar had 1,000 units in beginning inventory before starting 9.500 units and completing 8,000 units....
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Question
Carmelita Inc., has the following information available:
Costs from Beginning Inventory |
Costs from Current Period |
|
Direct materials | $5,300 | $29,000 |
Conversion costs | 6,700 | 147,100 |
At the beginning of the period, there were 500 units in process that were 43% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 4,900 units were started and completed. Ending inventory contained 400 units that were 22% complete as to conversion costs and 100% complete as to materials costs. Assume that the company uses the FIFO
The total costs that will be transferred into Finished Goods for units started and completed were
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