Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 65,000 units. Transferred out, 62,000 units. Ending inventory, 36,000 units (materials are 100 percent complete; conversion costs are 65 percent complete). Required: ● a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. a. Materials b. Conversion costs Equivalent Units
Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 65,000 units. Transferred out, 62,000 units. Ending inventory, 36,000 units (materials are 100 percent complete; conversion costs are 65 percent complete). Required: ● a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. a. Materials b. Conversion costs Equivalent Units
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 5E: The Converting Department of Worley Company had 2,400 units in work in process at the beginning of...
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For conversion costs what was the formula you used to get 82,100?
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