The following production data were taken from the records of the Finishing Department for June:...
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Finance
The following production data were taken from the records of the Finishing Department for June:
Inventory in process, June 1 (31% completed)
4,800 units
Completed units during June
61,900 units
Ending inventory (65% complete)
4,400 units
What is the number of material equivalent units of production in the June 30, Finishing Department inventory, assuming that the first-in, first-out method is used to cost inventories and materials were added at the beginning of the process?
66,300 units
61,500 units
4,400 units
57,100 units
The debits to Work in ProcessAssembly Department for April, together with data concerning production, are as follows:
April 1, work in process:
Materials cost, 3,000 units
$ 8,445
Conversion costs, 3,000 units, 40% completed
5,265
Materials added during April, 10,000 units
27,787
Conversion costs during April
31,196
Goods finished during April, 12,000 units
0
April 30 work in process, 1,000 units, 40% completed
0
All direct materials are added at the beginning of the process, and the first-in, first-out method is used to cost inventories. The conversion cost per equivalent unit for April is
$2.79
$2.71
$3.12
$2.40
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