a) compute equivalent units of material using fifo
Beginning inventory = units transferred out+ending inventory - started this month
=50400+18900-59100
= 10200
Equivalent units
Units transferred out
Beginning inventory. 10200×0%=0
Units in this month (50400-10200)=40200×100%=40200
Ending inventory:
18900×100%=18900
Therefore equivalent units of material = 0+40200+18900=59100
b) compute the equivalent units for conversion cost using FIFO METHOD
Units transferred
Beginning inventory 10200×38%=3876
Units completed in this month (50400-10200)=40200×100%=40200
Ending inventory
18900×15%=2835
Therefore equivalent units of conversion cost=3876+40200+2835=46911
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Pierce & Company provides the following information concerning the work in process at its plant: •...
Pierce & Company provides the following information concerning the work in process at its plant: • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete). • Started this month, 60,400 units. • Transferred out, 50,400 units. • Ending inventory, 19,900 units (materials are 100 percent complete; conversion costs are 15 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent...
Pierce & Company provides the following information concerning the work in process at its plant: • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 60 percent complete). • Started this month, 60,900 units. • Transferred out, 50,200 units. • Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 16 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent...
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