Oasis Company adds all materials at the beginning of its manufacturing process. Production information for...
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Accounting
Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows: Required:
1. Reconcile the number of physical units to find the missing amounts. Determine the number of units started and completed each month.
2. Calculate the number of equivalent units for both materials and conversion for each month using the FIFO method.
1. ARE ALL CORRECT
PART 1-
BEGINNING
ENDING
WORK IN PROCESS
WORK IN PROGRESS
CONVERSION
CONVERSION
COMPLETE
COMPLETE
Units Started
MONTH
UNITS
PERCENT
UNIT STARTED
UNITS TRANS OUT
UNIT
PERCENT
and Compl.
FEBRUARY
1900
45
24400
19600
6700
23
17700
JUNE
4500
74
24300
24800
4000
40
20300
SEPTEMBER
2900
25
25500
25800
2600
56
22900
DECEMBER
3700
32
22600
20800
5500
73
17100
2. ALL ARE INCORRECT. Please help with part 2 / show method for understanding, please.
PT.2
EQUIVALENT UNITS
MONTH
MATERIAL
CONVERSION
FEB
24,600
20,296
JUNE
20,300
22,830
SEPT
22,900
25,081
DEC
17,100
22,299
Answer & Explanation
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