Pink Company uses the first-in-first-out (FIFO) method in its process costing system. Operating data for the first department for June appear below: Units % complete with regards to conversion cost Beginning work in process inventory 700 40% Units started into production 5 000 Units completed and transferred to the next department during June 3 800 Normal losses (10% of current input) ? Abnormal losses 200 Ending work in process inventory ? 20% All losses are deemed to occur at the beginning of the process, when inspection takes place. The number of units in ending work in process inventory were: A. 1 200 B. 1 400 C. 1 700 D. 1 900
Pink Company uses the first-in-first-out (FIFO) method in its process costing system. Operating data for the first department for June appear below: Units % complete with regards to conversion cost Beginning work in process inventory 700 40% Units started into production 5 000 Units completed and transferred to the next department during June 3 800 Normal losses (10% of current input) ? Abnormal losses 200 Ending work in process inventory ? 20% All losses are deemed to occur at the beginning of the process, when inspection takes place. The number of units in ending work in process inventory were: A. 1 200 B. 1 400 C. 1 700 D. 1 900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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100%
Pink Company uses the first-in-first-out (FIFO) method in its
|
Units |
% complete with regards to conversion cost |
Beginning work in process inventory |
700 |
40% |
Units started into production |
5 000 |
|
Units completed and transferred to the next department during June |
3 800 |
|
Normal losses (10% of current input) |
? |
|
Abnormal losses |
200 |
|
Ending work in process inventory |
? |
20% |
All losses are deemed to occur at the beginning of the process, when inspection takes place.
The number of units in ending work in process inventory were:
A. |
1 200 |
|
B. |
1 400 |
|
C. |
1 700 |
|
D. |
1 900 |
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