Homework Answers
1.
- Total Units Transferred out: 36000
- Total Units in Ending Inventory: 4900 (7000*70%)
- Total Units in Opening Inventory: 2350 (4700*50%)
- So, Production = 36000+4900-2350 = 38550 units
2.
- Total Units Transferred out: 9600
- Total Units in Ending Inventory: 3200
- Total Units in Opening Inventory: 3800
- So, Units started during this period = 9600+3200-3800 = 9000 units
3.
- FIFO equivalent Production: 5710
- Ending Inventory: 750 (2500*30%)
- Completed units: 4600
- So, Opening Inventory completed= 5710-750-4600 = 360.
- Therefore. % completion of beginning inventory = (1200 - 360)/1200 *100 = 70%
4.
- Total cost per equivalent unit = 69600/8000 = 8.7
- Total Units Produced: 37100 (opening completed) + 60000 (started and completed) + 8000 (Closing Equivalent) =105100.
- So, total conversion cost = 8.7*105100 = 914370.
Please comment in case of any query regarding the solution.
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