Beginning inventory amounted to 1,000 units. This period 4,500 units were started and com- pleted. At the end of the period, the 3,000 units in inventory were 30 percent complete. Using FIFO costing, the equivalent production for the period was 5,600 units. What was the percentage of completion of the beginning

Beginning inventory amounted to 1,000 units. This period 4,500 units were started and com- pleted. At the end of the period, the 3,000 units in inventory were 30 percent complete. Using FIFO costing, the equivalent production for the period was 5,600 units. What was the percentage of completion of the beginning

Name: Beginning inventory amountedto 1,000 units. This period4,500 units we
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Description: Beginning inventory amountedto 1,000 units. This period4,500 units were started andcom- pleted. At the end of theperiod, the 3,000 units ininventory were 30 percentcomplete. Using FIFO costing,the equivalent production forthe period was 5,600 units.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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During the period, 45,000 units were completed, and 3,600 units were on hand at the end of the period. If the ending work in process inventory was 75% complete as to direct materials and 25% complete as to conversion costs, the equivalent units for direct materials under the weighted-average method would be: a) 48,000 b) 48,600 c) 47,700 d) 45,900
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A production department's output for the most recent month consisted of 8,700 units completed and transferred to the next stage of production and 5,700 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method. Multiple Choice O O 7,500 units. 10,920 units. 14,400 units. 5,280 units. 12,120 units.
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