The July 1 work-in-process inventory consisted of 5,200 pounds with $16,500 in materials cost and $14,700 in conversion cost. The July 1 work-in-process inventory was 100% complete with respect to materials and 70% complete with respect to conversion. During July, 40,300 pounds were started into production. The July 31 work-in-process inventory consisted of 9,200 pounds, which were 100% complete with respect to materials and 60% complete with respect to conversion. Compute the equivalent units of production for conversion.

The July 1 work-in-process inventory consisted of 5,200 pounds with $16,500 in materials cost and $14,700 in conversion cost. The July 1 work-in-process inventory was 100% complete with respect to materials and 70% complete with respect to conversion. During July, 40,300 pounds were started into production. The July 31 work-in-process inventory consisted of 9,200 pounds, which were 100% complete with respect to materials and 60% complete with respect to conversion. Compute the equivalent units of production for conversion.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 4EA: There were 1,700 units in beginning inventory that were 40% complete with regard to conversion....

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