jacob and eric inc. has 6000 units in beginning work in process, 30% complete as
ID: 2426188 • Letter: J
Question
jacob and eric inc. has 6000 units in beginning work in process, 30% complete as to conversion costs, 60000 units transferred out to finished goods and 2000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to material costs.
How much are equivalent units for conversion costs if the FIFO method is used
a)60400 b)64600 c)56000 d) 58600
How much are equivalent units for material if the FIFO method is used?
a) 60400 b)62000 c)56000 d)68000
How much are equivalent units for conversion costs if the WEIGHTED AVERAGE method is used?
a)60400 b)64600 c)56000 d)58600
Please show how to get the answer
Explanation / Answer
How much are equivalent units for conversion costs if the FIFO method is used
ans;
=60000+400
=60400
How much are equivalent units for material if the FIFO method is used
ans;
b)62000
How much are equivalent units for conversion costs if the WEIGHTED AVERAGE method is used
ans;
d)58600
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