The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed 220 units Transferred to finished goods during June 5,100 units Equivalent units of production during June 5,495 units Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a.360 units b.540 units c.675 units d.450 units
The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed 220 units Transferred to finished goods during June 5,100 units Equivalent units of production during June 5,495 units Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a.360 units b.540 units c.675 units d.450 units
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following production data were taken from the records of the finishing department for June:
| Inventory in process, June 1, 25% completed | 220 | units |
| Transferred to finished goods during June | 5,100 | units |
| Equivalent units of production during June | 5,495 | units |
Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs.
a.360 units
b.540 units
c.675 units
d.450 units
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