118
93) Daosta Inc. uses the FIFO method in its process costing system. The following data concern
the operations of the company’s first processing department for a recent month.
Work in process, beginning:
Units in process
400
Percent complete with respect to materials
50
%
Percent complete with respect to conversion
90
%
Costs in the beginning inventory:
Materials cost
$
1,300
Conversion cost
$
9,576
Units started into production during the month
11,000
Units completed and transferred out
10,600
Costs added to production during the month:
Materials cost
$
70,056
Conversion cost
$
279,760
Work in process, ending:
Units in process
800
Percent complete with respect to materials
90
%
Percent complete with respect to conversion
20
%
Required:
Using the FIFO method:
a. Determine the equivalent units of production for materials and conversion costs.
b. Determine the cost per equivalent unit for materials and conversion costs.
c. Determine the cost of ending work in process inventory.
d. Determine the cost of units transferred out of the department during the month.
94) Rauzman Corporation uses the FIFO method in its process costing. The following data concern
the company’s Mixing Department for the month of August.
Materials
Conversion
Work in process, August 1
$
25,641
$
15,300
Cost added to production in the Mixing Department during
August
$
170,940
$
179,775
Equivalent units of production for August
7,770
7,650
Required:
Compute the cost per equivalent unit for materials and conversion for the Mixing Department for
August using the FIFO method.
Materials
Cost added during the period (a)
$
170,940
$
179,775
Equivalent units of production (b)
$
7,770
$
7,650
Cost per equivalent unit (a) ÷ (b)
22.00
23.50
95) Zubris Corporation uses the FIFO method in its process costing. The following data concern
the company’s Assembly Department for the month of January.
Materials
Conversion
Work in process, January 1
$
4,761
$
5,365
Cost added to production in the Assembly Department
during January
$
26,496
$
34,040
Equivalent units of production for January
2,070
1,850
Required:
Compute the costs per equivalent unit for the Assembly Department for January using the FIFO
method.
Cost added during the period (a)
$
26,496
$
34,040
Equivalent units of production (b)
$
2,070
$
1,850
Cost per equivalent unit (a) ÷ (b)
12.80
18.40
123
96) The following data has been provided by Glasco Inc., a company that uses the FIFO method in
its process costing system. The data concern the company’s Shaping Department for the month of
March.
Cost in beginning work in process inventory
$
1,690
Units started and completed this month
4,110
Materials
Conversion
Cost per equivalent unit
$
12.50
$
45.70
Equivalent units required to complete the units in
beginning work in process inventory
460
260
Equivalent units in ending work in process inventory
220
176
Required:
Determine the cost of ending work in process inventory and the cost of the units transferred out of
the department during March using the FIFO method.
125
97) Crone Corporation uses the FIFO method in its process costing system. The following data
concern the company’s Assembly Department for the month of August.
Cost in beginning work in process inventory
$
1,920
Units started and completed this month
3,130
Materials
Conversion
Cost per equivalent unit
$
9.50
$
20.40
Equivalent units required to complete the units in
beginning work in process inventory
360
140
Equivalent units in ending work in process inventory
330
264
Required:
Determine the cost of ending work in process inventory and the cost of units transferred out of the
department during August using the FIFO method.
98) In February, one of the processing departments at Encinias Corporation had beginning work in
process inventory of $27,000 and ending work in process inventory of $21,000. During the month,
$316,000 of costs were added to production and the cost of units transferred out from the
department was $322,000.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of February.
99) In October, one of the processing departments at Ingersoll Corporation had beginning work in
process inventory of $16,000 and ending work in process inventory of $29,000. During the month,
$191,000 of costs were added to production. The company uses the FIFO method in its process
costing system.
Required:
Construct a cost reconciliation report for the department for the month of October.
100) In December, one of the processing departments at Bonine Corporation had ending work in
process inventory of $32,000. During the month, $264,000 of costs were added to production and
the cost of units transferred out from the department was $257,000.The company uses the FIFO
method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of December.