Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 65% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed 324,000 Units 81,000 427,000 405,000 103,000 (a) Compute the number of units started and completed this period for the first production department. Units Equivalent units of production: FIFO method Direct Materials 81,000 324,000 80% (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production de for April using the FIFO method. Percent Added 35% 100% Conversion Percent Complete 35% EUP 30% 28,350 324,000 Conversion Percent Added 65% 100% EUP 52,650 324,000

Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Percent Complete 65% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed 324,000 Units 81,000 427,000 405,000 103,000 (a) Compute the number of units started and completed this period for the first production department. Units Equivalent units of production: FIFO method Direct Materials 81,000 324,000 80% (b) Compute the number of equivalent units of production for both direct materials and conversion for the first production de for April using the FIFO method. Percent Added 35% 100% Conversion Percent Complete 35% EUP 30% 28,350 324,000 Conversion Percent Added 65% 100% EUP 52,650 324,000

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Description: !Required information[The following information applies to the questions displayed below.]The first production department of Stone Incorporated reports the following for April.DirectMaterialsBeginning work in process inventoryUnits started this peri

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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[The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Direct Materials Conversion Units Beginning work in process inventory 71,000 Percent Complete 65% Percent Complete 35% Units started this period 377,000 Completed and transferred out 355,000 Ending work in process inventory 93,000 90% 40% Compute the number of equivalent units of production for both direct materials and conversion for April using the weighted average method. Completed and transferred out Ending work in process Total Equivalent units of production: Weighted average method Direct Materials Conversion Units Percent Complete EUP Percent Complete EUP 355,000 93,000 448,000
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