(Appendix 6A)Dita Company Uses a Process Costing System

question 106

Essay

(Appendix 6A)Dita Company uses a process costing system.The following information relates to one month's activity in the company's Curing Department:
The conversion cost of the beginning inventory was $6,500.During the month,$112,000 in additional conversion cost was incurred.
Required:
a)(Appendix 6A)Assume that the company uses the FIFO method.Compute the following:
1.The equivalent units of production for conversion for the month.
2.The cost per equivalent unit for conversion for the month.
3.The total cost transferred out during the month.
4.The cost assigned to the ending work-in-process inventory.
b)Assume that the company uses the weighted-average cost method.Compute the following:
1.The equivalent units of production for conversion for the month.
2.The cost per equivalent unit for conversion for the month.
3.The total cost transferred out during the month.
4.The cost assigned to the ending work-in-process inventory.

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Definitions:

Gender Differences

Variations in characteristics, behaviors, physical development, and roles attributed or assigned to males and females.

Weak Situation

A setting in which clear expectations for behavior are lacking, allowing greater expression of personality differences.

Neurotic

Refers to an individual experiencing, or prone to experience, a high level of emotional instability and anxiety.

Personality Differences

Variations among individuals in patterns of thinking, feeling, and behaving that make each person unique.