Required information [The following information applies to the questions displayed below.] The first production department of Stone Incorporated reports the following for April. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units started and completed Units 240.000 60,000 322,000 300,000 82,000 Direct Materials Percent Complete 60% 80% Conversion Percent Complete 40% (a) Compute the number of units started and completed this period for the first production department. 30%
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
![### Required Information
**[The following information applies to the questions displayed below.]**
The first production department of Stone Incorporated reports the following for April:
| | Units | Direct Materials Percent Complete | Conversion Percent Complete |
|--------------------------------------|--------|----------------------------------|----------------------------|
| Beginning work in process inventory | 60,000 | 60% | 40% |
| Units started this period | 322,000 | | |
| Completed and transferred out | 300,000 | | |
| Ending work in process inventory | 82,000 | 80% | 30% |
#### (a) Compute the number of units started and completed this period for the first production department.
- **Units started and completed**: 240,000
There are no graphs or diagrams in the image. This section includes a table detailing units and their completion stages for direct materials and conversion during the production process.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa0a6d064-d60f-4f54-aa81-ca6ff52cfb9a%2F75028828-4500-4be9-b79f-3c6f619bcd11%2Fa792re6_processed.jpeg&w=3840&q=75)
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