Equivalent Units of Conversion Costs The Rolling Department of Oak Ridge Steel Company had 10,206 tons in beginning work in process inventory (10% complete) on July 1. During July, 72,900 tons were completed. The ending work in process inventory on July 31 was 6,561 tons (50% complete). What are the total equivalent units for conversion costs? Round to the nearest whole unit.
______ units
Answer
EUP - FIFO Method |
Units |
% Conversion |
EUP - Conversion |
Units of ENDING WIP |
6,561 |
50.0% |
3,281 |
Units STARTED & COMPLETED |
62,694 [72900 – 10206] |
100% |
62,694 |
Units of beginning WIP |
10,206 |
90% [10% was already complete] |
9,185 |
Equivalent Units of Production |
75,160 Answer |
EUP - Weighted Average Method |
Units |
% Conversion |
EUP - Conversion |
Units TRANSFERRED |
72,900 |
100% |
72,900 |
Units of ENDING WIP |
6,561 |
50% |
3,281 |
Equivalent Units of Production |
76,181 |
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