Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete). Started this month, 60,600 units. Transferred out, 50,400 units. Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 13 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units Materials a. b. Conversion costs
Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete). Started this month, 60,600 units. Transferred out, 50,400 units. Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 13 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units Materials a. b. Conversion costs
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Pierce & Company provides the following information concerning the work in process at its plant:
Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete).
• Started this month, 60,600 units.
Transferred out, 50,400 units.
Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 13 percent complete).
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nt
ences
Required:
a. Compute the equivalent units for materials using FIFO.
b. Compute the equivalent units for conversion costs using FIFO.
Equivalent
Units
Materials
a.
b.
Conversion costs
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