Use below information for Questions 1 to4:
The smelting department of Company X has following productionand cost data for September:
- Production: Beginning work in process 200 units that are 100%complete as to materials and 85% complete as to conversion costs;units started into production 1,000 units; units transferred out tonext department
980 units; ending work in process are 100% complete as tomaterials and 41% complete as to conversion costs.
- Manufacturing costs: Beginning work in process TL8,100materials, TL9,270 labor and TL2,100 manufacturing overhead costs.In current period, TL50,800 worth of materials, TL25,700 worth oflabor and TL35,000 worth of manufacturing overhead costs areincurred.
- Compute the material cost portion of the ending inventory ifthe company uses WA method to compute equivalent units.
- Compute the conversion cost portion of the ending inventory ifthe company uses FIFO method to compute equivalent units. method tocompute equivalent units.
- Compute the material cost portion of the transferred outinventory if the company uses FIFO method to compute equivalentunits.
- Compute the conversion cost portion of the transferred outinventory if the company uses WA method to compute equivalentunits.
