The following production data were taken from the records of the finishing department for June:...
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Accounting
The following production data were taken from the records of the finishing department for June:
| Inventory in process, June 1, 25% completed | 460 units |
| Transferred to finished goods during June | 4,700 units |
| Equivalent units of production during June | 5,105 units |
Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs.
a.416 units
b.520 units
c.780 units
d.624 units
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