Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing...

Intask Corporation uses the FIFO method in its process costing system. Beginning inventory in the mixing department consisted of 6,600 units that were 75% complete with respect to conversion costs. Ending work in process inventory consisted of 5,600 units that were 60% complete with respect to conversion costs. If 13,200 units were transferred to the next processing department during the period, the equivalent units of production for conversion cost would be:

Garrison 16e Rechecks 2017-08-28

Multiple Choice

13,850 units
11,610 units
14,850 units
14,200 units

Solutions

Expert Solution

Answer

Correct Answer = Option #2: 11,610 units = Equivalent units for conversion cost

EUP - FIFO Method	Units	% Conversion	EUP - Conversion
Units of ENDING WIP	5,600	60.0%	3,360
Units STARTED & COMPLETED [13200 – 6600 from beginning]	6,600	100%	6,600
Units of beginning WIP	6,600	25%	1,650 [75% was already complete]
Equivalent Units of Production			11,610

ekkarill92 answered 1 year ago

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