Reference: 16_06
Refer to the following information about the Dipping Department of the Indiana Factory for the month of August:
Inventory Valuation Method: FIFO
Equivalent
Total
Units
Cost
Beginning goods in process:
Costs from prior month
$ 7,000
Materials added
300
Labor and overhead added
375
Started and completed goods:
2,000
Ending goods in process:
320
360
The cost per equivalent unit of materials is $10, and the cost per equivalent unit of labor and overhead is $22.
163. What total cost should be assigned to the units that were in the beginning goods in process inventory and completed during August?
164. What total cost should be assigned to the units that were started and completed during August?
165. What total cost should be assigned to all units that were completed during August?
166. What total cost should be assigned to the units that were in process at the end of August?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here