Goode Company has the following production data for selected months. Ending Work

Question

Goode Company has the following production data for selected months.

Ending
Work in Process

Month

Beginning
Work in Process

Units
Transferred Out

Units

% Complete as to
Conversion Cost

Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.

Materials

Conversion Costs

Ending
Work in Process

Month

Beginning
Work in Process

Units
Transferred Out

Units

% Complete as to
Conversion Cost

January –0– 39,230 11,300 45 % March –0– 43,960 8,190 75 July –0– 47,340 21,700 20

Explanation / Answer

Description Units Materials Conversion cost Equivalent units % completed Equivalent units % completed January: Completed 39230 39230 100% 39230 100% WIP 11300 11300 100% 5085 45% Total 50530 50530 44315 March: Completed 43960 43960 100% 43960 100% WIP 8190 8190 100% 6142.5 75% Total 52150 52150 50102.5 July Completed 47340 47340 100% 47340 100% WIP 21700 21700 100% 4340 20% Total 69040 69040 51680

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