Fulton Corporation adds all materials at the beginning of production and incurs conversion cost evenly throughout...
Fulton Corporation adds all materials at the beginning of production and incurs conversion cost evenly throughout manufacturing. The company completed 115,000 units during the year and had 17,000 units in process at year end, 20% complete with respect to conversion cost. Equivalent units for the year total: Multiple Choice
A. materials, 115,000; conversion, 115,000.
B. materials, 132,000; conversion, 132,000.
C. materials, 118,400; conversion, 118,400.
D. materials, 132,000; conversion, 118,400.
E.materials, 115,000; conversion, 3,400.
Homework Answers
Answer is D.materials, 132,000; conversion, 118,400.
Explanation:
Number of units completed = 115000
Units in process at year end = 17000
work in process units 20% completed with respect to conversion cost i.e. 17000*20% = 3400 units
so equivalent unit:
Material = 115000 units + 17000 units = 132000 units
Conversion cost = 115000 units + 3400 units = 118400 units
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