Muhares, which uses a process-costing system, adds material at the beginning of

Question

Muhares, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 8,000 Total equivalent units of conversion: 7,400 Units started and completed during the period: 6,500 On the basis of this information, the ending work-in-process inventory's stage of completion is:

80%.

70%.

60%.

40%.

none of the above

Explanation / Answer

Ending work-in-process inventory's stage of completion = 100%- (8000-7400)/(8000-6500)

=100%-40%

=60%

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