Process Costing Worksheet with transferred in costs - FIFO

Accounting: Tools for Business Decision Making

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Process Costing Worksheet with transferred in costs - FIFO Units: Work in process inventory, beginning of period ( % complete as to direct materials, %complete as to conversion costs) Transferred in from prior department during period Total units to account for Units completed and transferred out during period Units in work in process inventory, end of period ( % complete for direct materials, % complete for conversion costs) Total units accounted for Costs: Work in process inventory, beginning of period $ Transferred in from prior department during period Direct materials added during period Conversion costs added during period Total costs to account for $ Compute the following using the FIFO method in your calculations a) Equivalent units for transferred-in costs, direct materials, and conversion costs. Fill in the non-shaded areas of the table. Equivalent Units Flow of physical units Transferred in Direct materials Conversion costs Units accounted for: Completed and transferred out during period
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Process Costing Worksheet with transferred in costs - FIFO...

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