4S-122
74. Darver 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 100
Percent complete with respect to materials 80%
Percent complete with respect to conversion 60%
Costs in the beginning inventory:
Materials cost $376
Conversion cost $2,376
Units started into production during the month 21,000
Units completed and transferred out 20,400
Costs added to production during the month:
Materials cost $93,645
Conversion cost $825,531
Work in process, ending:
Units in process 700
Percent complete with respect to materials 70%
Percent complete with respect to conversion 50%
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.
4S-125
75. Easy 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 300
Percent complete with respect to materials 60%
Percent complete with respect to conversion 80%
Costs in the beginning inventory:
Materials cost $594
Conversion cost $8,256
Units started into production during the month 26,000
Units completed and transferred out 25,500
Costs added to production during the month:
Materials cost $79,732
Conversion cost $887,626
Work in process, ending:
Units in process 800
Percent complete with respect to materials 50%
Percent complete with respect to conversion 40%
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.
4S-128
76. Rauls 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 $14,798 $8,864
Cost added to production in the Assembly Department during January $93,922
$50,414
Equivalent units of production for January 3,020 2,770
Required:
Compute the costs per equivalent unit for the Assembly Department for January using the FIFO
method.
4S-130
77. Hayek 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 $31,734 $30,320
Cost added to production in the Mixing Department during August $91,332 $81,864
Equivalent units of production for August 7,740 7,580
Required:
Compute the cost per equivalent unit for materials and conversion for the Mixing Department for
August using the FIFO method.
4S-132
78. Mottai 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 $4,410
Units started and completed this month 3,630
Materials
Conversion
Cost per equivalent unit $34.20 $18.50
Equivalent units required to complete the units in beginning work in process inventory 320
110
Equivalent units in ending work in process inventory 380 231
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.
4S-134
79. The following data has been provided by Klemm 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 $4,190
Units started and completed this month 2,210
Materials
Conversion
Cost per equivalent unit $27.70 $23.90
Equivalent units required to complete the units in beginning work in process inventory 190
160
Equivalent units in ending work in process inventory 310 264
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.
80. In February, one of the processing departments at Mateus Corporation had beginning
work in process inventory of $20,000 and ending work in process inventory of $30,000. During the
month, $206,000 of costs were added to production and the cost of units transferred out from the
department was $196,000.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.
4S-137
81. In December, one of the processing departments at Moshier Corporation had ending work
in process inventory of $24,000. During the month, $293,000 of costs were added to production
and the cost of units transferred out from the department was $297,000. 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.
82. In October, one of the processing departments at Moake Corporation had beginning work
in process inventory of $21,000 and ending work in process inventory of $35,000. During the
month, $247,000 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.