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Department A had 5,000 units in work in process that were 62% completed as to labor...

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Accounting

Department A had 5,000 units in work in process that were 62%completed as to labor and overhead at the beginning of the period;31,900 units of direct materials were added during the period;34,500 units were completed during the period; and 2,400 units were35% completed as to labor and overhead at the end of the period.All materials are added at the beginning of the process. Thefirst-in, first-out method is used to cost inventories. The numberof equivalent units of production for material costs for the periodwas a. 29,500 b. 34,500 c. 31,900 d. 36,900

Answer & Explanation Solved by verified expert
4.3 Ratings (919 Votes)

  • Correct Answer = Option ‘c’ 31,900 units for Material Cost
  • Working

EUP - FIFO Method

Units

% Material completed this period

EUP Materials

Units of ENDING WIP

                                   2,400

100%

                     2,400

Units STARTED & COMPLETED

                                29,500

100%

                   29,500

Units of beginning WIP

                                   5,000

0.% [it was already complete with respect to Material]

                            -  

Equivalent Units of Production

                   31,900 = Answer

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