Draper Corporation computed the physical flow of units for Department D for the month of December as follows: Units completed From work in process on December 1 21,000 From December production 63,000 Total 84,000 Materials are added at the beginning of the process. Units of WIP at December 31 were 17,000. As to conversion costs, WIP at December 1 was 70 percent complete and WIP at December 31 was 40 percent complete. Using the FIFO method, what are the equivalent units of production for materials and conversion costs for the month of December, respectively? Multiple Choice 80,000; 76,100 80,000; 84,000 101,000; 76,100 101,000; 84,000 None of the above
Draper Corporation computed the physical flow of units for Department D for the month of December as follows: Units completed From work in process on December 1 21,000 From December production 63,000 Total 84,000 Materials are added at the beginning of the process. Units of WIP at December 31 were 17,000. As to conversion costs, WIP at December 1 was 70 percent complete and WIP at December 31 was 40 percent complete. Using the FIFO method, what are the equivalent units of production for materials and conversion costs for the month of December, respectively? Multiple Choice 80,000; 76,100 80,000; 84,000 101,000; 76,100 101,000; 84,000 None of the above
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 8-51 (Algo)
Draper Corporation computed the physical flow of units for Department D for the month of December as follows:
| Units completed | |
| From work in process on December 1 | 21,000 |
| From December production | 63,000 |
| Total | 84,000 |
Materials are added at the beginning of the process. Units of WIP at December 31 were 17,000. As to conversion costs, WIP at December 1 was 70 percent complete and WIP at December 31 was 40 percent complete. Using the FIFO method, what are the equivalent units of production for materials and conversion costs for the month of December, respectively?
Multiple Choice
-
80,000; 76,100
-
80,000; 84,000
-
101,000; 76,100
-
101,000; 84,000
-
None of the above
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