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Department II of Charity Manufacturing Company presents the following production data for the month of...

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Accounting

Department II of Charity Manufacturing Company presents the following production data for the month of May, 2011:

Opening inventory, 3/8 completed4, 000 units

Started in process 13, 000 units

Transferred9, 000 units

Closing inventory, completed4, 000 units

completed4, 000 units

Required:

  1. What are the equivalent units of production (conversion) for the month of May, 2011 under average method?
  2. What are the equivalent units of production (conversion) for the month of May, 2011 under FIFO method?
  3. What are the equivalent units of production (material) for the month of May, 2011 under Average method?
  4. What are the equivalent units of production (material) for the month of May, 2011 under FIFO method?

*Kindly provide computations as well. Thank you!

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