The following production data were taken from the records of the Finishing Department for June: Line Item Description Amount Inventory in process, June 1, 25% completed 51,500 units Transferred to finished goods during June Equivalent units of production during June 5,000 units 5,200 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. 200 units b. 575 units c. 1,000 units d. 300 units

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The following production data were taken from the records of the Finishing Department for June:
Line Item Description
Amount
Inventory in process, June 1, 25% completed 51,500 units
Transferred to finished goods during June
5,000 units
Equivalent units of production during June
5,200 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. 200 units
b. 575 units
c. 1,000 units
d. 300 units
Transcribed Image Text:The following production data were taken from the records of the Finishing Department for June: Line Item Description Amount Inventory in process, June 1, 25% completed 51,500 units Transferred to finished goods during June 5,000 units Equivalent units of production during June 5,200 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. 200 units b. 575 units c. 1,000 units d. 300 units
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