Question

Materials are added at the beginning of the production process at Campo Company. Campo uses a...

Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the physical flow of units is available for the month of November:

Beginning work in process (70% complete) 90,000
Started in November 1,020,000
Completed in November and transferred out 960,000
Ending work in process (40% complete) 150,000

Required:

Compute the equivalent units for the conversion cost calculation.

Homework Answers

Answer #1

Answer:

Equivalent units for the conversion cost = 957,000 units.

Calculations:

Statement of Equivalent Production
Input Particulars Output Material Conversion cost
% Units % Units
       90,000.00 Opening Stock        90,000.00 0%                      -   30%     27,000.00
1,020,000.00 Put and processed      870,000.00 100%      870,000.00 100% 870,000.00
Closing stock      150,000.00 100%      150,000.00 40%     60,000.00
1,110,000.00 Total 1,110,000.00 1,020,000.00 957,000.00

In case of any doubt, please comment.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Materials are added at the beginning of the production process at Campo Company. Campo uses a...
Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the physical flow of units is available for the month of November: Beginning work in process (70% complete) 90,000 Started in November 1,020,000 Completed in November and transferred out 960,000 Ending work in process (40% complete) 150,000 Required: Compute the equivalent units for the conversion cost calculation.
Materials are added at the beginning of the production process at Campo Company. The following information...
Materials are added at the beginning of the production process at Campo Company. The following information on the physical flow of units is available for the month of November. Beginning work in process (58% complete) 65,000 Started in November 590,000 Completed in November and transferred out 565,000 Ending work in process (70% complete) 90,000 Cost data for November show the following. Beginning WIP inventory Direct materials costs $ 27,300 Conversion costs 55,700 Current period costs Direct materials costs $ 340,950...
Materials are added at the beginning of the production process at Campo Company. The following information...
Materials are added at the beginning of the production process at Campo Company. The following information on the physical flow of units is available for the month of November: Beginning work in process (48% complete) 45,000 Started in November 600,000 Completed in November and transferred out 560,000 Ending work in process (60% complete) 85,000 Cost data for November show the following: Beginning WIP inventory Direct materials costs $ 27,300 Conversion costs 52,700 Current period costs Direct materials costs $ 310,950...
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 795,000 units of product to finished goods. At the end of November, the work in process inventory consists of 186,000 units that are 40% complete with respect to conversion. Beginning inventory had $510,120 of direct materials and $65,205 of conversion cost. The direct material cost...
A Company manufactures small boats. Materials are added at the beginning of the process and conversion...
A Company manufactures small boats. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout the process. Data for April follows: Production Data Units Percent Complete Units in process, April 1 1000 60% Units started into production 4000 Units in process, April 30 1500 20% Cost Data Work in process, April 1: Costs added: Materials $25,500 Materials $90,000 Labor 3,000 Labor 12,000 Manufacturing overhead 6,000 Manufacturing overhead 18,900 Required: Using the weighted average method,...
A department uses the FIFO method of process costing. All direct materials are added at the...
A department uses the FIFO method of process costing. All direct materials are added at the beginning of the process. This department has the following data for this month. 217 units in beginning WIP (73% complete with respect to conversion costs). 11,662 units started 154 units in ending WIP (70% complete with respect to conversion costs). $23 direct material cost per equivalent unit $14 conversion cost per equivalent unit $1,321 beginning WIP direct materials costs $3,324 beginning WIP conversion costs...
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 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 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...