The Filling Department of Eve Cosmetics Company had 3,300 ounces
in beginning work in process inventory...
Free
90.2K
Verified Solution
Link Copied!
Question
Accounting
The Filling Department of Eve Cosmetics Company had 3,300 ouncesin beginning work in process inventory (50% complete). During theperiod, 37,000 ounces were completed. The ending work in processinventory was 2,600 ounces (50% complete).
What are the total equivalent units for conversion costs?
If required, round to the nearest unit.
Answer & Explanation
Solved by verified expert
4.0 Ratings (708 Votes)
Requirement:
Total equivalent units for Conversion Cost
There can be possible two answers depending upon the fact
whether Weighted Average method is used or FIFO method is
used.
Answer by Weighted Average method:
EUP - Weighted
Average Method
Units
%
Conversion
EUP -
Conversion
Units TRANSFERRED
37,000
100%
37,000
Units of ENDING WIP
2,600
50%
1,300
Equivalent Units of Production
38,300 Answer
Answer by FIFO Method
EUP - FIFO
Method
Units
%
Conversion
EUP -
Conversion
Units of ENDING WIP
2,600
50.0%
1,300
Units STARTED & COMPLETED
33,700
100%
33,700
Units of beginning WIP
3,300
50.00%
1,650
Equivalent Units of Production
36,650 Answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
