Question

Campbell Corporation Beginning inventory (30% complete as to Material B and 60% complete for conversion) 700...

Campbell Corporation
Beginning inventory (30% complete as to
Material B and 60% complete for conversion) 700 units
Started this cycle 2,000 units
Ending inventory (50% complete as
to Material B and 80% complete for conversion) 500 units
Beginning inventory costs:
Material A $14,270
Material B 5,950
Conversion 5,640
Current Period costs:
Material A $40,000
Material B 70,000
Conversion 98,100
Material A is added at the start of production, while Material B is added
uniformly throughout the process.
Refer to Campbell Corporation. Assuming a FIFO method of process costing,compute the average cost per EUP for conversion.
Select one:
a. $45.50
b. $43.03
c. $45.00
d. $47.59
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Correct answer :- $43.03 is correct answer

Detail working for your easy udnerstanding

Physical Flow
Beginning WIP inventory 700
Units started 2000
Less: Ending inventory 500
Units completed and transferred 2200
Statement showing Computation of Equivalent Unit- FIFO- Campbell Corporation
Particular Whole units Conversion
Beginign WIP ( 40%) 700 280
Unit Started & Completed 1500 1500
Ending inventory (80%) 500 500
Units accounted for 2700 2280
Equivalent Unit of Production
Conversion
Equivalent units of production 2280
Statement showing Cost per Equivalent Unit
Particular Conversion
Current costs incurred $98,100.00
Tototal cost to account for (a) $98,100.00
Equivalent units (b) 2280
Cost per Equivalent unit  (a/b) $43.03
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Rodrick Corporation experienced the following during April: Beginning work-in-process inventory 7,500 units, 40% of conversion added...
Rodrick Corporation experienced the following during April: Beginning work-in-process inventory 7,500 units, 40% of conversion added this period Units started this period 64,000 units Ending work-in-process inventory 5,000 units, 60% of conversion added this period Materials are added at the beginning of the process and conversion occurs uniformly throughout the process. If the company uses FIFO costing, what are the equivalent units for direct materials and conversion? 66,500; 66,500 66,500; 72,000 71,500; 69,500 64,000; 65,000 None of these.
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 810,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 198,000 units that are 60% complete with respect to conversion. Beginning work in process inventory had $458,640...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 755,000 units of product to finished goods. At the end of November, the work in process inventory consists of 199,000 units that are 50% complete with respect to conversion. Beginning inventory had $558,090 of direct materials and $128,175 of conversion cost. The direct material cost...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 810,000 units of product to finished goods. At the end of November, the work in process inventory consists of 197,000 units that are 90% complete with respect to conversion. Beginning inventory had $392,730 of direct materials and $123,413 of conversion cost. The direct material cost...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added...
Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 755,000 units of product to finished goods. At the end of November, the work in process inventory consists of 199,000 units that are 50% complete with respect to conversion. Beginning inventory had $558,090 of direct materials and $128,175 of conversion cost. The direct material cost...
The production department in a process manufacturing system completed 82,000 units of product and transferred them...
The production department in a process manufacturing system completed 82,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,600 were in process at the beginning of the period. The other 57,400 units were started and completed during the period. At period-end, 16,100 units were in process. Prepare the department’s equivalent units of production with respect to direct materials under each of the three separate assumptions using the FIFO method for process costing....
Beginning Inventory: 8000 units, 75% complete Started: 82,000 units Finished: 80,000 units Ending Inventory: 1000 units,...
Beginning Inventory: 8000 units, 75% complete Started: 82,000 units Finished: 80,000 units Ending Inventory: 1000 units, 50% complete Required: Based on the above data, compute equivalent units for both materials and conversion costs using FIFO costing. Assume that all materials are added at end of process and conversion costs are applied evenly.
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory...
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $31,000 and ending work in process inventory of $36,000. During the month, the cost of units transferred out from the department was $166,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be: . Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted...
Weiss Company Weiss Company adds material at the start of production. The following production information is...
Weiss Company Weiss Company adds material at the start of production. The following production information is available for September: Beginning Work in Process Inventory (45% complete as to conversion) 10,000 units Started this period 120,000 units Ending Work in Process Inventory (80% complete as to conversion) 8,200 units Beginning Work in Process Inventory Costs: Material $24,500 Conversion 68,905 Current Period Costs: Material $75,600 Conversion 130,053 Refer to Weiss Company. What is the conversion cost per equivalent unit using the FIFO...
JJJ Corp. manufactures products for sale to customers. Material is introduced at the beginning of the...
JJJ Corp. manufactures products for sale to customers. Material is introduced at the beginning of the process. Conversion costs are incurred (and allocated) uniformly throughout the process. Data for the month of February follow: Work in process, January 31 - 50,000 units 100% complete for direct materials, 40% completed for conversion costs actual costs of direct materials, $70,500; actual costs of conversion, $34,050 Units completed during February, 200,000 Work in process, February 28 - 75,000 units 100% complete for direct...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT