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What is the equivalent production units of materials? What is the equivalent production units of conversion costs? What is the cost of Units completed and transferred to Finished Goods?

What is the equivalent production units of materials? What is the equivalent production units of conversion costs? What is the cost of Units completed and transferred to Finished Goods?

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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Global Company makes a single product in two departments and uses FIFO method costing. The production data for department B follow: Units: In process, beginning (40% completed) Received from Department A Units completed and transferred to Finished Goods In process, ending (60% completed) Costs: Received from Dept. A Materials Conversion Costs 4000 30000 16300 3800 1940 6000 In process, beginning 25000 Added during the period 89100 67500 81000 Material are added at the start of the process and losses normally occur during the start of the process. What is the equivalent production units of materials? What is the equivalent production units of conversion costs? What is the cost of Units completed and transferred to Finished Goods? What is the cost of the ending work in process inventory?
Transcribed Image Text:Global Company makes a single product in two departments and uses FIFO method costing. The production data for department B follow: Units: In process, beginning (40% completed) Received from Department A Units completed and transferred to Finished Goods In process, ending (60% completed) Costs: Received from Dept. A Materials Conversion Costs 4000 30000 16300 3800 1940 6000 In process, beginning 25000 Added during the period 89100 67500 81000 Material are added at the start of the process and losses normally occur during the start of the process. What is the equivalent production units of materials? What is the equivalent production units of conversion costs? What is the cost of Units completed and transferred to Finished Goods? What is the cost of the ending work in process inventory?
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