Question
In: Accounting
Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000...
Tript Corporation has a process costing system and uses the
weighted-average method. The
company had 3,000 units in work in process on February 1 that were
60% complete with respect
to conversion costs. During the month, 10,000 units were completed.
At the end of the month,
4,000 units remained in work in process that were 40% complete with
respect to conversion
costs. Materials are added at the beginning of the process.
How many units were started into production during February?
Solutions
Expert Solution
Solution: 11,600
Working:
Equivalent Units
Physical units % of Completion
Material Conversion C
Units started 11,000 89%
11,000 9800
Beginning WIP 3,000 60%
3,000 1800
14,000 11,600
Equivalent Units
Physical units % of Completion
Material Conversion C
Units completed 10,000 100%
10,000 10,000
Beginning WIP 4,000 40%
4,000 1,600
Total units accounted for
14,000 11,600
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