During March, Hanks Manufacturing started and completed 30,000 units. In beginning work in process, there were...

During March, Hanks Manufacturing started and completed 30,000 units. In beginning work in process, there were 5,000 units 60 percent complete with respect to conversion costs. Materials are added at the beginning of the process. In EWIP there were 10,000 units 40 percent complete for conversion costs. Using FIFO, the equivalent units of materials and conversion costs are, respectively:

Expert Solution

		Materials		Conversion Costs
	Physical Units	% of completion	Equivalent Units of production	% of completion	Equivalent Units of production
Beginning Work in process	5,000	0%	0	40%	2,000
Units started and completed	30,000	100%	30,000	100%	30,000
Ending Work in process	10,000	100%	10,000	40%	4,000

Total	45,000		40,000		36,000

Thus, as per FIFO method, Equivalent units of production for:

Material is	40,000
Conversion cost is	36,000

ekkarill92 answered 6 months ago

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