3. Ping Products transferred 15,000 units to the department. An additional 5,000 units were in the beginning inventory in the department. At the end of the month 12,000 units were transferred to the next department, 6,000 units remained in work in process, 40% complete as to conversion costs and the remaining units spoiled at the 75% stage of conversion. Beginning inventory was 60% complete as to conversion costs and spoiled units were considered normal. What is the equivalent unit for conversion costs using the FIFO Costing method? a. 14,400 b. 12,900 c. 13,900 d. 13,400 4. Using the data in Number 3, what is the equivalent unit for conversion costs under the average method? a. 15,900 b. 14,400 c. 16,400 d. 20,000

3. Ping Products transferred 15,000 units to the department. An additional 5,000 units were in the beginning inventory in the department. At the end of the month 12,000 units were transferred to the next department, 6,000 units remained in work in process, 40% complete as to conversion costs and the remaining units spoiled at the 75% stage of conversion. Beginning inventory was 60% complete as to conversion costs and spoiled units were considered normal. What is the equivalent unit for conversion costs using the FIFO Costing method? a. 14,400 b. 12,900 c. 13,900 d. 13,400 4. Using the data in Number 3, what is the equivalent unit for conversion costs under the average method? a. 15,900 b. 14,400 c. 16,400 d. 20,000

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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