The following production data were taken from the records of the Finishing Department for June: Inventory...
The following production data were taken from the records of the Finishing Department for June:
| Inventory in process, June 1 (30% completed) | 4,000 units |
| Completed units during June | 65,000 units |
| Ending inventory (60% complete) | 7,000 units |
What is the number of material equivalent units of production in
the June 30 Finishing Department inventory, assuming that the
first-in, first-out method is used to cost inventories and
materials were added at the beginning of the process?
a. 68,000 units
b. 76,000 units
c. 7,000 units
d. 72,000 units
Homework Answers
Calculation of Equivalent units of Production by using FIFO method :
|
Particulars |
Units |
| Inventory in process (4000*70%).No of units completed during June | 2800 |
| Completed units | 65000 |
| Ending inventory(7000*60%) | 4200 |
| Total number of Equivalent units completed during June | 72000 |
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The following production data were taken from the records of the
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