The Finishing Department had 6.000 incomplete units in its beginning Work in Pro

Question

The Finishing Department had 6.000 incomplete units in its beginning Work in Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs 18,000 units were received from the previous department The ending Work-in Process Inventory consisted of 2,350 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 How many units were started and completed during the period?

Explanation / Answer

Details Units % Material Eq unit Material % Conversion Eq Unit convesrion Opening WIP                         6,000.00            100.00                  6,000.00 30%      1,800.00 Opening WIP complted   70%      4,200.00 Units started & Finished                       15,650.00            100.00               15,650.00           100.00 15,650.00 Units from prev department                       18,000.00               16,825.00 16,355.00 Units prodcued                       24,000.00               22,825.00 22,355.00 Units started & Finished                       15,650.00            100.00               15,650.00           100.00 15,650.00 Output Units finished                       21,650.00            100.00               21,650.00           100.00 21,650.00 Closing WIP                         2,350.00 50%                  1,175.00 30%         705.00               22,825.00 22,355.00 So units started and completed during period=      15,650.00

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