Solution:
Fenton Watches Inc. | |||
Assembly Department | |||
Computation of Equivalent unit (FIFO) | |||
Particulars | Physical units | Material | Conversion |
Units to be accounted for: | |||
Beginning WIP Inventory | 100 | ||
Units started this period | 487 | ||
Total unit to be accounted for | 587 | ||
Units Accounted for: | |||
Units completed and transferred out | |||
From
beginning inventory Material - 5% Conversion - 60% |
100 | 5 | 60 |
Started and completed currently | 367 | 367 | 367 |
Transferred to finished goods | 467 | 372 | 427 |
Units in
ending WIP Material - 55% Conversion - 35% |
120 | 66 | 42 |
Total units accounted for | 587 | 438 | 469 |
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