ABC Corporation provided the following information in relation May 2020 operations. Units in beginning inventory - 400 U

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answerhappygod
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ABC Corporation provided the following information in relation May 2020 operations. Units in beginning inventory - 400 U

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ABC Corporation provided the following information in relation May
2020 operations.
Units in beginning inventory - 400
Units started into production - 3,000
Units in ending inventory - 300
Units transferred to another department - 3,100
The percentage of completion of beginning inventory is 80% for
materials and 40% for conversion cost. As for the ending the
inventory, the percentage of completion for materials and
conversion are 70% and 60%, respectively.
The cost of beginning inventory according to company’s costing
system was $11,040 of which $8,120 was for materials and the
remainder is for conversion costs. The costs added during the month
amounted to $132,730. The cost per equivalent unit for the month
for material is $25.40 and $18.20 for conversion. The company is
using FIFO method in its process costing system.
REQUIRED:
1. Calculate the total manufacturing cost per unit for the month of
May 2020.
2. Calculate for the equivalent units of material and conversion
that were required to complete the beginning inventory.
3. How much is the cost of units transferred to the next department
for material, conversion and total for the month?
4. How much is the cost of ending work in process inventory for
material, conversion and total month?
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