49 - Exercise412(20minutes FIFOMethod 1 Materials:80,000gallons(100 Labor:80,000gallons(100u Overhead:80,000gallons(100u period

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Exercise 4-12  (20 minutes) FIFO Method 1. Materials Labor Overhead To complete beginning work in process: Materials: 80,000 gallons × (100% − 80%) . ............................... 16,000 Labor: 80,000 gallons × (100% − 75%) . ............................... 20,000 Overhead: 80,000 gallons × (100% − 75%) . ............................... 20,000 Units started and completed during the period. ................................................ 710,000 710,000 710,000 Ending work in process: Materials: 50,000 gallons × 60%. ......... 30,000 Labor: 50,000 gallons × 20% . ............. 10,000 Overhead: 50,000 gallons × 20% . ....... 10,000 Equivalent units of production . ............... 756,000 740,000 740,000 2. Materials Labor Overhead Cost added during the period (a) . ........... $907,200 $370,000 $592,000 Equivalent units of production (b) . .......... 756,000 740,000 740,000 Cost per equivalent unit (a) ÷ (b) . ........ ` $1.20
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/25/2010 for the course ACCT 202 taught by Professor Karenpierce during the Spring '10 term at LA Tech.

Page1 / 2

49 - Exercise412(20minutes FIFOMethod 1 Materials:80,000gallons(100 Labor:80,000gallons(100u Overhead:80,000gallons(100u period

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online