Jones Corporation uses a first-in, first-out (FIFO) process costing system. Jones has the following unit information for the month of August: Units Beginning work-in-process inventory, 100% for materials, 75% complete for conversion cost 10,000 Units completed and transferred out 90,000 Ending work-in-process inventory, 100% complete for materials, 60% complete for conversion costs 8,000 The number of equivalent units of production for conversion costs for the month of August is: Select one: Ⓒa. 88,000 b. 92,700 c. 87,300 d. 92,300
Jones Corporation uses a first-in, first-out (FIFO) process costing system. Jones has the following unit information for the month of August: Units Beginning work-in-process inventory, 100% for materials, 75% complete for conversion cost 10,000 Units completed and transferred out 90,000 Ending work-in-process inventory, 100% complete for materials, 60% complete for conversion costs 8,000 The number of equivalent units of production for conversion costs for the month of August is: Select one: Ⓒa. 88,000 b. 92,700 c. 87,300 d. 92,300
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 2CMA: Jones Corporation uses a first-in, first-out (FIFO) process cost system. Jones has the following...
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![Jones Corporation uses a first-in, first-out (FIFO) process costing system. Jones has the following unit information for the month of August:
Units
Beginning work-in-process inventory, 100%
for materials, 75% complete for conversion cost
Units completed and transferred out
Ending work-in-process inventory, 100% complete
for materials, 60% complete for conversion costs
8,000
The number of equivalent units of production for conversion costs for the month of August is:
Select one:
10,000
90,000
a. 88,000
b. 92,700
c. 87,300
d. 92,300](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1ac4a5c-5c91-4743-9545-fc03c7695e62%2F4356748f-14b4-4ff4-9e51-b08efc8792a8%2Ft38q85p_processed.png&w=3840&q=75)
Transcribed Image Text:Jones Corporation uses a first-in, first-out (FIFO) process costing system. Jones has the following unit information for the month of August:
Units
Beginning work-in-process inventory, 100%
for materials, 75% complete for conversion cost
Units completed and transferred out
Ending work-in-process inventory, 100% complete
for materials, 60% complete for conversion costs
8,000
The number of equivalent units of production for conversion costs for the month of August is:
Select one:
10,000
90,000
a. 88,000
b. 92,700
c. 87,300
d. 92,300
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