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Question: chapter 6 rocess costing 59 lo3 amp lo4 fifoi second...

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Chapter 6 rocess Costing 59. LO.3 & LO.4 (FIFOi second department) Use the information for Octavia Corp. in Problem 57, except assume that the company uses FIFO costing. Prepare, in good form, a FIFO cost of production report for the Curing Department for May 2013. CPA ADAPTED 60. LO.3 & LO.4 (Comprehensive; FIFO; two departments) Keepln makes fencing in a two-stage production system. In the Curting Department, wood is cut and assembled into 6-foot fence sections In the Coating Department, the sections are pressure- treated to resist the effects of weather and then coated with a preservative. The follow- ing production and cost data are available for March 2013 (units are 6-foot fence sections): Units Cutting Dept. 1,300 Coating Dept. Beginning WIP Inventory (March 1) Complete as to matenial 80% 75% 0% Complete as to conversion Units started in March Units completed in March Ending WIP Inventory (March 31) 4,800 4,500 1,100 Complete as to material Complete as to conversion 0% 40% 20% Costs Beginning WIP Inventory N/A s 8,345 7,720 $11,840 Material 1,674 Transferred in Material N/A 35,200 21,225 4,950 11,300 a. Prepare EUP schedules for both the Cutting and Coating Departments. b. Determine the cost per EUP for the Cutting Department. c. Assign costs to goods transferred out of and in ending WIP Inventory in the Cutting d. Determine the cost per EUP in the Coating Department. Use the modified FIFO basis and round to the nearest cent. (See footnote 7, page 205.) e. Assign costs to goods transferred out of and in ending WIP Inventory in the Coat- ing Department. 61. LO.5 (Multiproduct; hybrid costing) Be-at-Ease Industries manufactures a series of arms), three models of molded plastic chairs: standard (without arms), deluxe (with and executive (with arms and padding). All are variations of the same design. The com- pany uses batch manufacturing and has a hybrid costing system. and finish the chairs. Plastic sheets which are sold directly to other remaining plastic sheets are mold dard model is sold after this opera to the deluxe and executive models Be-at-Ease has an extrusion operation and subsequent operations to form, trim, d by the extrusion operation, some of During the forming operation, the eats, and the legs are added; the stan- the trim operation, the arms are added
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