Sepulveda Corporation uses a process costing system to manufacture laptop PCs. The following information summarizes operations for its VeryLite model during the quarter ending March 31, Year 1: Direct Units Materials $ 60,000 Work-in-process inventory, January 1 Started during the quarter Completed during the quarter Work-in-process inventory, March 31 Costs added during the quarter 100 500 400 200 $840,000 Beginning work-in-process inventory was 50% complete for direct materials. Ending work-in-process in- ventory was 75% complete for direct materials. What were the equivalent units for direct materials for the quarter using the FIFO method? 1. 450 2. 500 4. 600 3. 550

Sepulveda Corporation uses a process costing system to manufacture laptop PCs. The following information summarizes operations for its VeryLite model during the quarter ending March 31, Year 1: Direct Units Materials $ 60,000 Work-in-process inventory, January 1 Started during the quarter Completed during the quarter Work-in-process inventory, March 31 Costs added during the quarter 100 500 400 200 $840,000 Beginning work-in-process inventory was 50% complete for direct materials. Ending work-in-process in- ventory was 75% complete for direct materials. What were the equivalent units for direct materials for the quarter using the FIFO method? 1. 450 2. 500 4. 600 3. 550

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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