Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. the following production data were taken from the

The following production data were taken from the records of the Finishing Department for June:...

70.2K

Verified Solution

Question

Finance

The following production data were taken from the records of the Finishing Department for June:

Inventory in process, June 1 (31% completed) 4,800 units
Completed units during June 61,900 units
Ending inventory (65% complete) 4,400 units

What is the number of material equivalent units of production in the June 30, Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process?

66,300 units

61,500 units

4,400 units

57,100 units

The debits to Work in ProcessAssembly Department for April, together with data concerning production, are as follows:

April 1, work in process:
Materials cost, 3,000 units $ 8,445
Conversion costs, 3,000 units, 40% completed 5,265
Materials added during April, 10,000 units 27,787
Conversion costs during April 31,196
Goods finished during April, 12,000 units 0
April 30 work in process, 1,000 units, 40% completed 0

All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is

$2.79

$2.71

$3.12

$2.40

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students