FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
Publisher: MCG
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PROBLEM 1
Department II of Charity Manufacturing Company presents the following production data for the month of May, 2011:
Opening inventory, 3/8 completed 4, 000 units
Started in process 13,000 units
Transferred 9,000 units
Closing inventory, ½ completed 4,000 units
¾ completed 4, 000 units
- What are the equivalent units of production (conversion) for the month of May, 2011 under FIFO method?
- What are the equivalent units of production (conversion) for the month of May, 2011 under average method?
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