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Ferrell Glass Company uses a process costing system. The company reported a beginning inventory of 18,000 units that were 40% complete with respect to direct materials. During the month, 90,000 units were started, 96,000 units were finished, and ending inventory amounted to 12,000 units that were 20% complete with respect to direct materials. Under FIFO, total direct materials cost should be spread over;     a) 92,400 equivalent units b) 91,200 equivalent units c) 87,600 equivalent units d) 109,200 equivalent units

Ferrell Glass Company uses a process costing system. The company reported a beginning inventory of 18,000 units that were 40% complete with respect to direct materials. During the month, 90,000 units were started, 96,000 units were finished, and ending inventory amounted to 12,000 units that were 20% complete with respect to direct materials. Under FIFO, total direct materials cost should be spread over;     a) 92,400 equivalent units b) 91,200 equivalent units c) 87,600 equivalent units d) 109,200 equivalent units

FINANCIAL ACCOUNTING
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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Ferrell Glass Company uses a process costing system. The company reported a beginning inventory of 18,000 units that were 40% complete with respect to direct materials. During the month, 90,000 units were started, 96,000 units were finished, and ending inventory amounted to 12,000 units that were 20% complete with respect to direct materials. Under FIFO, total direct materials cost should be spread over;

 
 
a) 92,400 equivalent units
b) 91,200 equivalent units
c) 87,600 equivalent units
d) 109,200 equivalent units
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