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4 August, 04:30

Department R had 5,000 units in work in process that were 75% completed as to labor and overhead at the beginning of the period; 30,000 units of direct materials were added during the period; 32,000 units were completed during the period; and 3,000 units were 40% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was

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  1. 4 August, 04:43
    0
    29,450 units

    Explanation:

    first-in, first-out (FIFO) method establishes that the cost of goods sold will be bases en the first units produced during the period.

    beginning inventory in equivalent units (conversion costs) = 5,000 x 25% = 1,250 units

    units started during the period = 30,000 units

    units completed = 32,000 units

    units started and completed at 100% conversion costs = 32,000 - 5,000 = 27,000 units

    ending inventory in equivalent units (conversion costs) = 3,000 x 40% = 1,200

    to determine the total number of equivalent units we must add:

    units started and completed at 100% conversion costs + equivalent units in beginning inventory + equivalent units in ending inventory = 27,000 units + 1,250 units + 1,200 units = 29,450 units
  2. 4 August, 04:45
    0
    Answer:equivalent units for current period = 34450 units

    Explanation:

    Beginning Work in Progress (75% complete) 5000 x (100% - 75%) = 1250 units

    Units complete = 32000 units

    Work in progress at the end (40% complete) 3000 x 40% = 1200 units

    Equivalent units for current period = 1250 + 32000 + 1200 = 34450 units
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