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A department adds raw materials to a process at the beginning of the process and incurs...

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Accounting

A department adds raw materials to a process at the beginning ofthe process and incurs conversion costs uniformly throughout theprocess. For the month of January, there were no units in thebeginning work in process inventory; 42773 units were started intoproduction in January; and there were 5174 units that were 78%complete in the ending work in process inventory at the end ofJanuary. What were the equivalent units of production forconversion costs for the month of January? Round your final answerto the nearest whole number.

Answer & Explanation Solved by verified expert
4.5 Ratings (915 Votes)

Reconciliation of Units

A

Opening WIP

                         -  

B

Introduced

                42,773

C=A+B

TOTAL

                42,773

D

Transferred

                37,599

E=C-D

Closing WIP

                  5,174

Statement of Equivalent Units

Conversion Cost

Units

Complete %

Equivalent units

Transferred

                 37,599

100%

                 37,599

Closing WIP

                    5,174

78%

                    4,036

Total

                 42,773

Total

                 41,635

Equivalent units for conversion cost = 41635
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