Koole Products Inc Required:
A

question 12

Essay

Koole Products Inc.uses the first-in,first-out (FIFO)method of process costing.The following information was available for the current year:
$\begin{array}{lcc}& \text {Number } & \text {Production } \\&\underline{ \text {of units } } &\underline{\text { costs }}\\ \text { Beginning work-in-process ( \( 80 \% \) complete) } &1000&\$6400\\ \text { Units started this period (current period production work) } &70000&548000\\ \text { Ending work-in-process ( \( 60 \% \) complete) } &4000\\\end{array}$

Required:
A. How many total equivalent units were completed during the year?
B. What was the cost per equivalent unit?
C. What is the cost allocated to the ending wark-in-pracess units?
D. What is cost of goods manufactured for the year?

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Definitions:

Conventional Tillage

A traditional farming method involving the plowing of land to prepare for sowing seeds, which can lead to soil erosion.

Conservation Tillage

An agricultural practice that minimizes soil erosion and water loss by leaving crop residue on fields between seasons.

Contour Farming

An agricultural technique in which farming (tilling, planting, etc.) is conducted following the contours of the land, aimed at reducing soil erosion and water runoff.

Undernourished

A condition where an individual does not receive adequate nutrients for proper health and growth.