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Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending inventory Materials $18.00 Required 11 440 4,320 The cost of beginning inventory according to the company's costing system was $7,868 of which $4,802 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $181,459. The costs per equivalent unit for the month were: 290 4,470 Materials 60% 70 % Conversion $23.00 Required 2 Required 3 Conversion 40% 50% Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. 2. Compute the equivalent units of material and conversion in the ending inventory. 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. 4. Compute the number of units started and completed during the month. 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 4 Required 5 Required 6 of the unite transferred to the next department for materials, conversion, and in total for the month.

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending inventory Materials $18.00 Required 11 440 4,320 The cost of beginning inventory according to the company's costing system was $7,868 of which $4,802 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $181,459. The costs per equivalent unit for the month were: 290 4,470 Materials 60% 70 % Conversion $23.00 Required 2 Required 3 Conversion 40% 50% Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. 2. Compute the equivalent units of material and conversion in the ending inventory. 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. 4. Compute the number of units started and completed during the month. 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 4 Required 5 Required 6 of the unite transferred to the next department for materials, conversion, and in total for the month.

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 15E: Costs per equivalent unit and production costs Based on the data in Exercise 17-14, determine the...
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Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending inventory Materials $18.00 The cost of beginning inventory according to the company's costing system was $7,868 of which $4,802 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $181,459. The costs per equivalent unit for the month were: Required 11 440 4,320 290 4,470 Materials 60% 70 % Conversion $23.00 Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. 2. Compute the equivalent units of material and conversion in the ending inventory. 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. Conversion 40% 50% 4. Compute the number of units started and completed during the month. 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. Required 2 Required 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 4 Required 6 Required 5 of the unite transferred to the next department for materials, conversion, and in total for the month.
Transcribed Image Text:Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department Percentage completion of beginning inventory Percentage completion of ending inventory Materials $18.00 The cost of beginning inventory according to the company's costing system was $7,868 of which $4,802 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $181,459. The costs per equivalent unit for the month were: Required 11 440 4,320 290 4,470 Materials 60% 70 % Conversion $23.00 Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month. 2. Compute the equivalent units of material and conversion in the ending inventory. 3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory. Conversion 40% 50% 4. Compute the number of units started and completed during the month. 5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. 6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. Required 2 Required 3 Answer is not complete. Complete this question by entering your answers in the tabs below. Required 4 Required 6 Required 5 of the unite transferred to the next department for materials, conversion, and in total for the month.
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