Duke University Operations And Supply Chain Management Assignment Help - managerial accounting

Question - Muzyka Corporation uses the FIFO method in its process costing system. Data concerning the first
processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory 300
Materials costs $5,900
Conversion costs $3,000
Percentage complete with respect to materials 85%
Percentage complete with respect to conversion 20%
Units started into production during the month 5,300
Materials costs added during the month $105,922
Conversion costs added during the month $225,221
Ending work in process inventory:
Units in ending work in process 800
Percentage complete with respect to materials 50%
Percentage complete with respect to conversion 40%
SHOW ALL WORK FOR ...Read More CREDIT.
Total Pts.
Earned
_____ 1. W hat are the total units started and completed during the month? (1 pt.)
_____ 2. W hat are the total units transferred out during the month? (1 pt.)
_____ 3. W hat are the equivalent units for materials for the month in the first processing
department? (3 pts.)
_____ 4. W hat are the equivalent units for conversion costs for the month in the first
processing department? (3 pts.)
_____ 5. The cost per equivalent unit for materials for the month in the first processing department is
closest to: (1 pt.)
_____ 6. The cost per equivalent unit for conversion costs for the first department for the month is
closest to: (1 pt.)
_____ 7. The cost per equivalent whole unit for the month in the first processing department is closest
to: (1 pt.)
_____ 8. The total cost assigned to beginning inventory is closest to: (3 pts.)
_____ 9. The total cost transferred from the first processing department to the next processing
department during the month is closest to: (2 pts.)
_____ 10.The cost of ending work in process inventory in the first processing department
according to the company's cost system is closest to: (2 pts.) ...Read Less

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