FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Brite ideas Inc mass produces reading lamps. Materials used in constructing the body of the lamp are added at the start of the process while the materials used in wiring the lamps are added at the halfway point. All labor and
| June | July | |
| # of lamps in beginning work in process | 900 | 1100 |
| Lamps transferred to finished goods | 5000 | 4600 |
| # of lamps in ending work in process | 1100 | 800 |
In June, the lamps in the beginning work in process were approx, 90% complete while those in ending work in process were only 30% complete. In July, the units remaining en ending work in process were 80% complete. All lamps in ending work in process are finished during the next month.
A, For the month of June, calculate the equivalent units of production for the three major cost categories - body materials, wiring materials and labor and overhead.
B. For the month of July, calculate the equivalent units of production for the three major cost categories - body materials, wiring materials and labor and overhead.
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