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Under process 2, what is the equivalent unit of production on materials and conversion, respectively? * 5,700 and 5,700 5,440 and 5,460 6,000 and 5,850 5,600 and 5,600

Under process 2, what is the equivalent unit of production on materials and conversion, respectively? * 5,700 and 5,700 5,440 and 5,460 6,000 and 5,850 5,600 and 5,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Under process 2, what is the equivalent unit of production on materials and conversion, respectively? *
5,700 and 5,700
5,440 and 5,460
6,000 and 5,850
5,600 and 5,600
Required: Costs incurred: Process 1 Process 2 Process 3 30,000 14,625 8,775 53,400 Materials 23,016 17,136 Direct Labor 11,704 11,193 Overhead 8,736 8,518 Total 43,456 36,847 50% at the beginning of 50% at the beginning of the process, another 20% at 70% of Beginning of remaining 50% at 60% of the process and the remaining 30% the process, and Materials are added at the process. the process. at 90% of the process. Units Started/Transferred In 6,000 ? In process, beginning Completed None None None 5,700 ? ? 300 units 50% In Process, end complete 200 units 50% complete 200 units at 80% complete Normal Loss None None None Abnormal loss None None None Quality Control Inspection Made At 60% stage of production. At 60% stage of production. At 60% stage of production.
Transcribed Image Text:Required: Costs incurred: Process 1 Process 2 Process 3 30,000 14,625 8,775 53,400 Materials 23,016 17,136 Direct Labor 11,704 11,193 Overhead 8,736 8,518 Total 43,456 36,847 50% at the beginning of 50% at the beginning of the process, another 20% at 70% of Beginning of remaining 50% at 60% of the process and the remaining 30% the process, and Materials are added at the process. the process. at 90% of the process. Units Started/Transferred In 6,000 ? In process, beginning Completed None None None 5,700 ? ? 300 units 50% In Process, end complete 200 units 50% complete 200 units at 80% complete Normal Loss None None None Abnormal loss None None None Quality Control Inspection Made At 60% stage of production. At 60% stage of production. At 60% stage of production.
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