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Presentation/PPT
27/08/2022
Can you please provide formulas or figures in the questions below? 1) Labs, Inc., uses a process costing system. The following data are available for one department for October: Percent Completed UnitsMaterialsConversion Work in process, October 1 26,000 62% 26% Work in process, October 31 16,000 84% 42% The department started 166,000 units into production during the month and transferred 176,000 completed units to the next department.Required:Compute the equivalent units of production for October assuming that the company uses the FIFO method of accounting for units and costs. Equivalent units of production Materials ???Conversion ???2) MediSecure, Inc., produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department’s operations in the most recent period appear below: Beginning work in process: Units in process 410 Stage of completion with respect to materials 69% Stage of completion with respect to conversion 31% Units started into production during the month 152,600 Units completed and transferred out 152,620 Ending work in process: Units in process 390 Stage of completion with respect to materials 74% Stage of completion with respect to conversion 21% Required:MediSecure uses the FIFO method in its process costing system. Compute the equivalent units of production for the period for the Molding Department. (Round your answers to 1 decimal place.)Equivalent units of production Materials ??Conversion ?? 3) Hielta Oy, a Finnish company, processes wood pulp for various manufacturers of paper products. Data relating to tons of pulp processed during June are provided below: Percent Completed Tons ofPulpMaterialsLabor and overhead Work in process, June 1 21,400 82% 88% Work in process, June 30 28,900 61% 47% Started into production during June 190,800 Assume that the company uses the FIFO method in its process costing system. Requirement 1:Compute the number of tons of pulp completed and transferred out during June. Completed and transferred out during the month tons of pulp Requirement 2:Compute the equivalent units of production for materials and for labor and overhead for June. Equivalent units of productionMaterials ?? Labor and Overhead ??
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