A company operates a shampoo manufacturing plant. Direct materials are added at the end of the...
A company operates a shampoo manufacturing plant. Direct materials are added at the end of the process. The following data were for March 20XX: Work in process, beginning inventory 151,400 units Transferred-in costs (100% complete) Direct materials (0% complete) Conversion costs (80% complete) Transferred in during current period 451,200 units Completed and transferred out 401,000 units Work in process, ending inventory 202,000 units Transferred-in costs (100% complete) Direct materials (0% complete) Conversion costs (55% complete) Calculate equivalent units for conversion costs using the FIFO method
Homework Answers
| Beginning work in process (151400 units x 20%) | 30280 | |
| Completed and transferred out | 249600 | |
| Ending work in process ( 202000 units x 55%) | 111100 | |
| 390980 | units |
Completed and transferred out includes Opening WIP since the company follows FIFO. So, it should be deducted.
*Completed and transferred out = 401000 - 151400 = 249600 units
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