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Author Question: Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct ... (Read 85 times)

aabwk4

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Samantha's Office Supplies manufactures desk organizers in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units are placed into production. After inspection, some units are spoiled due to undetectable material defects. Spoiled units generally constitute 3% of the good units. Data provided for February 2017 are as follows:

WIP, beginning inventory 2/1/201751,200 units
 Direct materials (100% complete)
 Conversion costs (60% complete)

Started during February171,000 units
Completed and transferred out180,500 units
WIP, ending inventory 2/28/201726,300 units
 Direct materials (100% complete)
 Conversion costs (30% complete)

Costs:
 WIP, beginning inventory:
Direct materials$280,700
Conversion costs80,300
Direct materials added408,100
Conversion costs added264,900

What are the direct material and conversion costs of all the units that were initially in the beginning work-in-process inventory and were subsequently shipped? Take into account the costs related to the completion of the conversion of the units during the month. Use the FIFO method of process costing. (Round any cost per unit calculations to the nearest cent.)
◦ $78,336; $44,000
◦ $0; $47,002
◦ $54,835; $48,782
◦ $40,239; $18,605


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Marked as best answer by aabwk4 on Mar 6, 2021

reversalruiz

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aabwk4

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Reply 2 on: Mar 6, 2021
Thanks for the timely response, appreciate it


billybob123

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Reply 3 on: Yesterday
Wow, this really help

 

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