In FIFO costing

Aziln Posts: 1, Reputation: 1

New Member

Jan 21, 2012, 05:23 AM

In FIFO costing

In FIFO costing, to arrive to a 'total cost to be accounted for', do I have to add the following: beginning cost of work in process, the cost of units transferred from the first department, and the cost of first department's work in process? Please help...

Check out some similar questions!

Derry uses the FIFO method in its process costing system. The following data concern [ 2 Answers ]

Derry uses the FIFO method in its process costing system. The following data concern the operations of the company’s first processing department for a recent month: Work in process, beginning Units in process 600 Stage of completion with respect to materials 90% Stage of completion with...

Average costing, fifo, flow of units [ 1 Answers ]

Units beginning work in progress 500@ units( 100%materials, 25%Conversion), unit transferred in 2500@units. Units transferred out and completed [email protected] ending work in progress 1000@units(100%materials, 65%conversion). Question : a. equivalent units using average costing. ...

Fifo process costing [ 1 Answers ]

1 You use process costing. In Dept B, units transferred in from Dept A are added at the beginning of the process, additional materials are added all at once when the process is 70% completed and conversion costs are added uniformly and continuously during the process. Draw a time line for this...

Fifo Or Lifo Costing Method [ 1 Answers ]

Which One Of These Costing Methods Overstates Inventory Turnover In A Period Of Inflation? Lifo Or Fifo. And Which One Matches Actual Physical Flow Of Goods. Lifo Or Fifo.

View more questions Search

Check out some similar questions!

Add your answer here.