Question
In: Accounting
A department adds raw materials to a process at the beginning of the process and incurs...
A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 42773 units were started into production in January; and there were 5174 units that were 78% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for conversion costs for the month of January? Round your final answer to the nearest whole number.
Solutions
Expert Solution
|
Reconciliation of Units |
||
|
A |
Opening WIP |
- |
|
B |
Introduced |
42,773 |
|
C=A+B |
TOTAL |
42,773 |
|
D |
Transferred |
37,599 |
|
E=C-D |
Closing WIP |
5,174 |
|
Statement of Equivalent Units |
|||
|
Conversion Cost |
|||
|
Units |
Complete % |
Equivalent units |
|
|
Transferred |
37,599 |
100% |
37,599 |
|
Closing WIP |
5,174 |
78% |
4,036 |
|
Total |
42,773 |
Total |
41,635 |
Equivalent units for conversion cost = 41635
ekkarill92 answered 1 year agoRelated Solutions
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