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Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical unita 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials 100% 100% 100% Conversion 40% 100% 201 Direct Materials Conversion Total $ 190,570 1,911,722 $ 169,180 1,254,980 $ 2,102,292 $ 1,424,160 $ 678,132 $ 21,390 656,742 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March.

Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical unita 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials 100% 100% 100% Conversion 40% 100% 201 Direct Materials Conversion Total $ 190,570 1,911,722 $ 169,180 1,254,980 $ 2,102,292 $ 1,424,160 $ 678,132 $ 21,390 656,742 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 20E: Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through...
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Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical units 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials: Conversion Materials. 100% Required B 100% 100% Conversion 40% 100% 201 Direct Materials. Conversion $ 169,180 1,254,980 Total $ 190,570 1,911,722 $ 2,102,292 $ 1,424,160 $ 678,132 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. $ 21,390 656,742 Complete this question by entering your answers in the tabs below. Required A Compute the equivalent units for the materials and conversion cost calculation for March. Equivalent Unit
Transcribed Image Text:Shirley Processing, Incorporated (SPI) makes adhesive tape and uses a FIFO process costing system. The following information shows the physical flow of units and costs for the month of March: Quantities Beginning work-in-process Started To account for Transferred out Ending work in process Accounted for Cost Beginning work-in-process Current period Total Physical units 109,000 958,000 1,067,000 977,500 89,500 1,067,000 Percentage Complete Materials: Conversion Materials. 100% Required B 100% 100% Conversion 40% 100% 201 Direct Materials. Conversion $ 169,180 1,254,980 Total $ 190,570 1,911,722 $ 2,102,292 $ 1,424,160 $ 678,132 Required: a. Compute the equivalent units for the materials and conversion cost calculation for March. b. Compute the cost per equivalent unit for direct materials and conversion costs for March. $ 21,390 656,742 Complete this question by entering your answers in the tabs below. Required A Compute the equivalent units for the materials and conversion cost calculation for March. Equivalent Unit
Required A Required B Compute the cost per equivalent unit for direct materials and conversion costs for March. Note: Round your answers to 2 decimal places. Direct Materials Conversion Cost per Equivalent Unit < Required A Required B >
Transcribed Image Text:Required A Required B Compute the cost per equivalent unit for direct materials and conversion costs for March. Note: Round your answers to 2 decimal places. Direct Materials Conversion Cost per Equivalent Unit < Required A Required B >
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