Greenworks, Inc. mass-produces goods in three processes. In the first process, direct materials are added 20% of the way through the process, conversion costs are incurred evenly throughout the process, and the normal spoilage rate is 5%. This period, 100,000 units were started in the first process. The 25,000 units in beginning work-in-process inventory (40% complete) were worth $100,000 ($50,000 in conversion costs and $50,000 in direct materials costs). During the period, the first process cost $130,000 for direct materials and $150,000 for conversion. At the end of the period, 90,000 units had been transferred on to the second process, and 28,000 units from process 1 were only 15% complete.
Instructions:
Enter all dollar values without dollar signs
Round your answers to the nearest dollar except costs per equivalent unit.
Find the following using the weighted average method: | Find the following using the FIFO method: | ||
---|---|---|---|
Cost per equivalent unit for direct materials | Cost per equivalent unit for direct materials | ||
Cost per equivalent unit for conversion costs | Cost per equivalent unit for conversion | ||
The value of good units completed and transferred out | The value of good units completed and transferred out | ||
The value of abnormal spoilage | The value of abnormal spoilage | ||
The value of ending work in process inventory | The value of ending work in process inventory |
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