Acct3333 P18 38 FIFO with spoilage

Acct3333 P18 38 FIFO with spoilage - \$0 \$52,500 To complete...

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Sheet1 Page 1 Problem 18-38 Note: FIFO used FIFO method Step 1: Physical Reconciliation Step 2: E.U. Calculation Beginning inventory 12,500 units Transferred in 87,500 T.I. Mat CC To account for 100,000 units Trans out 62,500 62,500 62,500 Accounted for: From BI -12,500 0 -3,125 Transferred out 62,500 units 50,000 62,500 59,375 Spoilage: Normal 8,750 Normal spoilage 8,750 0 7,000 Spoilage: Abnormal 3,750 Abnormal spoilage 3,750 0 3,000 Ending inventory 25,000 EI 25,000 25,000 23,750 Units accounted for 100,000 units E.Units 87,500 87,500 93,125 Step 3: Costs added Added \$3,192,875 \$809,375 \$819,000 \$1,564,500 \$3,192,875 \$809,375 \$819,000 \$1,564,500 Step 4: Unit cost \$35.4100 \$9.25 \$9.3600 \$16.80 Step 5: Costs accounted for Total T.I. Mat CC Transferred out 62,500 units Costs from Beginning inventory \$156,125 \$103,625
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Unformatted text preview: \$0 \$52,500 To complete beginning inventory Transferred In \$0 \$0 Material component \$117,000 \$117,000 Conversion costs \$157,500 \$157,500 To complete beginning inventory \$430,625 \$103,625 \$117,000 \$210,000 Started and completed 50,000 \$1,770,500 \$462,500 \$468,000 \$840,000 Normal spoilage \$198,538 \$80,938 \$- \$117,600 \$2,399,663 \$647,063 \$585,000 \$1,167,600 Abnormal spoilage \$85,088 \$34,688 \$- \$50,400 Ending inventory Transferred in 25000 E.U.s \$231,250 \$231,250 Materials 25000 E.U.s \$234,000 \$234,000 Conversion costs 23750 E.U.s \$399,000 \$399,000 Total ending inventory \$864,250 \$231,250 \$234,000 \$399,000 Total costs accounted for \$3,349,000 \$913,000 \$819,000 \$1,617,000...
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