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:
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...
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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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