The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed Transferred to finished goods during June 300 units 4,900 units Equivalent units of production during June 5,255 units Determine the number of equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a. 645 units b. 430 units c. 344 units Od. 516 units

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The following production data were taken from the records of the finishing department for June:
Inventory in process, June 1, 25% completed
Transferred to finished goods during June
300 units
4,900 units
Equivalent units of production during June
5,255 units
Determine the number of equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion
percentage of 25% applies to both direct materials and conversion costs.
a. 645 units
b. 430 units
c. 344 units
Od. 516 units
Transcribed Image Text:The following production data were taken from the records of the finishing department for June: Inventory in process, June 1, 25% completed Transferred to finished goods during June 300 units 4,900 units Equivalent units of production during June 5,255 units Determine the number of equivalent units of production in the June 30 Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs. a. 645 units b. 430 units c. 344 units Od. 516 units
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