FINANCIAL ACCOUNTING
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Author: Libby
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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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