The cutting process of Skysong Designs equivalent units of work done this period (from beginning to end of year) under the FIFO method as follows. Units in beginning WIP Inventory completed this period Units started and completed this period Units in ending WIP Inventory Total cost of units completed this period DM Cost of units in ending WIP inventory 25 750 100 Conversion Costs 25 750 Skysong's cost per equivalent unit is $66 for DM and $34 for conversion costs. How much cost should Skysong assign to the units completed this period? How much cost should be assigned to ending WIP Inventory for the cutting process? 50

The cutting process of Skysong Designs equivalent units of work done this period (from beginning to end of year) under the FIFO method as follows. Units in beginning WIP Inventory completed this period Units started and completed this period Units in ending WIP Inventory Total cost of units completed this period DM Cost of units in ending WIP inventory 25 750 100 Conversion Costs 25 750 Skysong's cost per equivalent unit is $66 for DM and $34 for conversion costs. How much cost should Skysong assign to the units completed this period? How much cost should be assigned to ending WIP Inventory for the cutting process? 50

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 9PA: The packaging department began the month with 500 units that were 100% complete with regard to...

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There were 2.000 units in beginning inventory that were 70% complete with regard to conversion. During the month. 15.000 units were started, and 16,000 were transferred to finished goods. The ending work in process was 55% complete with regard to conversion costs, and materials are added at the beginning of the process. What is the total amount of equivalent units for materials and conversion at the end of the month using the weighted-average method?
Cost of goods sold Pine Creek Company completed 200,000 units during the year at a cost of 3,000,000. The beginning finished goods inventory was 25,000 units at 310,000. Determine the cost of goods sold for 210,000 units, assuming a FIFO cost flow.
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