The Finishing Department had 5,000 incomplete units in its beginning Work-in-Pro
ID: 2389175 • Letter: T
Question
The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.
The How many units were started and completed during the period?
Answer
a. 12,000 b. 13,000 c. 18,000 d. 20,000
Explanation / Answer
The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. What are the equivalent units of production for materials during the period? Answer
a. 12,000
b. 13,000
c. 14,000
d. 15,000
15,000 - 2,000 = 13,000
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