Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added in the department. At the end of the month, 16,000 units were transferred to the next department, 6,000 units remained in work in process, 60% complete as to conversion costs and the remaining units were lost at the 80% stage of conversion. Beginning inventory was 60% complete as to conversion costs, and lost units were the result of normal production shrinkage. The equivalent units of conversion cost using FIFO is:
Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added in the department. At the end of the month, 16,000 units were transferred to the next department, 6,000 units remained in work in process, 60% complete as to conversion costs and the remaining units were lost at the 80% stage of conversion. Beginning inventory was 60% complete as to conversion costs, and lost units were the result of normal production shrinkage. The equivalent units of conversion cost using FIFO is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Exciting Products transferred 18,000 units to one department. An additional 5,000 units were added in the department. At the end of the month, 16,000 units were transferred to the next department, 6,000 units remained in work in process, 60% complete as to conversion costs and the remaining units were lost at the 80% stage of conversion. Beginning inventory was 60% complete as to conversion costs, and lost units were the result of normal production shrinkage. The equivalent units of conversion cost using FIFO is:
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