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The inspection department at Swifty Industries receives manufactured parts from its own production department and then meticulously checks every part before packaging it for sale. This month, the production department focused on automobile side mirrors. The inspection department began April with just 180 side mirrors in process. These beginning units were 70% of the way through the inspection process. During April, 4,010 more side mirrors were transferred-in from the production department. By month's end, 3,770 units had been fully inspected and packaged (packaging occurs when the units reach the 95% completion point in the inspection department). April's ending WIP Inventory units in the inspection department were 40% of the way through the inspection process. (a) Determine Swifty's equivalent units for transferred-in costs, DM, and conversion costs in April, assuming the company uses the FIFO method of process costing. Total equivalent units of work done Transferred-in DM Conversion Cost Determine equivalent units for all three cost categories in part (a), assuming Swifty instead uses the weighted-average method of process costing. Total equivalent units of work done eTextbook and Media Save for Later Transferred-in DM Conversion Cost Attempts: 0 of 2 used Submit Answer (d) Which of the two methods more accurately reflects how the work in the inspection department is done?

The inspection department at Swifty Industries receives manufactured parts from its own production department and then meticulously checks every part before packaging it for sale. This month, the production department focused on automobile side mirrors. The inspection department began April with just 180 side mirrors in process. These beginning units were 70% of the way through the inspection process. During April, 4,010 more side mirrors were transferred-in from the production department. By month's end, 3,770 units had been fully inspected and packaged (packaging occurs when the units reach the 95% completion point in the inspection department). April's ending WIP Inventory units in the inspection department were 40% of the way through the inspection process. (a) Determine Swifty's equivalent units for transferred-in costs, DM, and conversion costs in April, assuming the company uses the FIFO method of process costing. Total equivalent units of work done Transferred-in DM Conversion Cost Determine equivalent units for all three cost categories in part (a), assuming Swifty instead uses the weighted-average method of process costing. Total equivalent units of work done eTextbook and Media Save for Later Transferred-in DM Conversion Cost Attempts: 0 of 2 used Submit Answer (d) Which of the two methods more accurately reflects how the work in the inspection department is done?

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2BE: Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots From...
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The inspection department at Swifty Industries receives manufactured parts from its own production department and then meticulously checks every part before packaging it for sale. This month, the production department focused on automobile side mirrors. The inspection department began April with just 180 side mirrors in process. These beginning units were 70% of the way through the inspection process. During April, 4,010 more side mirrors were transferred-in from the production department. By month's end, 3,770 units had been fully inspected and packaged (packaging occurs when the units reach the 95% completion point in the inspection department). April's ending WIP Inventory units in the inspection department were 40% of the way through the inspection process. (a) Determine Swifty's equivalent units for transferred-in costs, DM, and conversion costs in April, assuming the company uses the FIFO method of process costing. Total equivalent units of work done Transferred-in DM Conversion Cost
Transcribed Image Text:The inspection department at Swifty Industries receives manufactured parts from its own production department and then meticulously checks every part before packaging it for sale. This month, the production department focused on automobile side mirrors. The inspection department began April with just 180 side mirrors in process. These beginning units were 70% of the way through the inspection process. During April, 4,010 more side mirrors were transferred-in from the production department. By month's end, 3,770 units had been fully inspected and packaged (packaging occurs when the units reach the 95% completion point in the inspection department). April's ending WIP Inventory units in the inspection department were 40% of the way through the inspection process. (a) Determine Swifty's equivalent units for transferred-in costs, DM, and conversion costs in April, assuming the company uses the FIFO method of process costing. Total equivalent units of work done Transferred-in DM Conversion Cost
Determine equivalent units for all three cost categories in part (a), assuming Swifty instead uses the weighted-average method of process costing. Total equivalent units of work done eTextbook and Media Save for Later Transferred-in DM Conversion Cost Attempts: 0 of 2 used Submit Answer (d) Which of the two methods more accurately reflects how the work in the inspection department is done?
Transcribed Image Text:Determine equivalent units for all three cost categories in part (a), assuming Swifty instead uses the weighted-average method of process costing. Total equivalent units of work done eTextbook and Media Save for Later Transferred-in DM Conversion Cost Attempts: 0 of 2 used Submit Answer (d) Which of the two methods more accurately reflects how the work in the inspection department is done?
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