Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: Beginning work in process inventory 4,500 items, 1/4 complete Units placed in production Units completed Ending work in process inventory Cost of beginning work in process Direct material costs, current Conversion costs, current 15,000 units 17,500 units 2,000 items, 3/4 complete P5,250 P16,500 P23,945 The company uses FIFO Method Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
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 3BE: The Rolling Department of Kraus Steel Company had 200 tons in beginning work in process inventory...
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a. Calculate the Equivalent Units of Production - Conversion Cost. =
b. Calculate for the total material cost per unit =
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