Carver Corporation uses the FIFO method in its process costing system. The Assem

Question

Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 2700 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 73,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 9700 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?

Explanation / Answer

Beginning work in process 2,700 transferred out 66,000 transferred in 73,000 ending work in process 9,700 units to be accounted 75,700 units accounted for 75,700 units % CC beginning work in process 2,700 40% 1080 started and completed during the year 63300 100% 63300 transferred out 66,000 ending work in process 9,700 50% 4850 Equivalent units for conversion 75,700 69230 answer 69,230 units

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