Homework Answers
Equivalent Units of production under FIFO Method:
It is assumed that units started which are given above are completed and transferred out as well in the period.
Equivalent units of production = Equivalent units to complete beginning inventory+units started and completed during the period+ Equivalent units in ending inventory
Equivalent units to complete beginning inventory = Units in beginning inventory * ( 100% - Percentage of completion of beginning inventory)
Equivalent units to complete beginning inventory for Department A = 5,000*(100%-30%) = 5,000*70% = 3,500
Equivalent units to complete beginning inventory for Department B = 4,000*(100%-75%) = 4,000*25% = 1,000
Equivalent units to complete beginning inventory for Department C = Nil
Equivalent units to complete beginning inventory for Department D = 45,000*(100%-60%)=45,000*40%=18,000
Equivalent Units of Ending Inventory = Units in ending inventory * percentage of completion
Equivalent Units of Ending Inventory in Department A = 4,000 * 20% = 800
Equivalent Units of Ending Inventory in Department B = Nil
Equivalent Units of Ending Inventory in Department C = 9,000 * 30% = 2,700
Equivalent Units of Ending Inventory in Department D = 10,000 * 20% = 2,000
Equivalent units of production = Equivalent units to complete beginning inventory+units started and completed during the period+ Equivalent units in ending inventory
Equivalent units of production in Department A = 3,500+25,000+800 = 29,300
Equivalent units of production in Department B = 1,000+20,000+Nil = 21,000
Equivalent units of production in Department C = Nil+47,000+2,700 = 49,700
Equivalent units of production in Department D = 18,000+34,000+2,000 = 78,000
| Equivalent units | |
| Department A | 29300 |
| Department B | 21000 |
| Department C | 49700 |
| Department D | 78000 |
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