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Sarasota Painting Company has the the following production data for March: -Beginning work in process inventory, 2160 units that are 30% complete for conversion costs -Units completed and transferred out, 47520 -Units in ending work in process inventory, 9720 that are 80% complete for conversion costs Materials are added only at the beginning of the process. Compute equivalent units of production for both materials and conversion costs using the FIFO method.

Sarasota Painting Company has the the following production data for March: -Beginning work in process inventory, 2160 units that are 30% complete for conversion costs -Units completed and transferred out, 47520 -Units in ending work in process inventory, 9720 that are 80% complete for conversion costs Materials are added only at the beginning of the process. Compute equivalent units of production for both materials and conversion costs using the FIFO method.

FINANCIAL ACCOUNTING
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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Sarasota Painting Company has the the following production data for March: -Beginning work in process inventory, 2160 units that are 30% complete for conversion costs -Units completed and transferred out, 47520 -Units in ending work in process inventory, 9720 that are 80% complete for conversion costs Materials are added only at the beginning of the process. Compute equivalent units of production for both materials and conversion costs using the FIFO method.
Transcribed Image Text:Sarasota Painting Company has the the following production data for March: -Beginning work in process inventory, 2160 units that are 30% complete for conversion costs -Units completed and transferred out, 47520 -Units in ending work in process inventory, 9720 that are 80% complete for conversion costs Materials are added only at the beginning of the process. Compute equivalent units of production for both materials and conversion costs using the FIFO method.
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