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nata0808 [166]
2 years ago
11

Multiple Choice Question 64 Concord Company had the following department information about physical units and percentage of comp

letion: Physical Units Work in process, May 1 (65%) 60800 Completed and transferred out 181000 Work in process, May 31 (35%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May
Business
1 answer:
RUDIKE [14]2 years ago
3 0

Answer:

Total Equivalent Units  Materials= 231,000  

Total Equivalent Units  Conversion Costs= 198500

Explanation:

Concord Company

<u>Given</u>

Physical Units

Work in process, May 1 (65%) 60800

Completed and transferred out 181000

Work in process, May 31 (35%) 50000

All materials are added at the beginning of the production process.

Particulars         Units      % of Completion                Equivalent Units

                                      Mat. Conversion Costs     Mat. Conversion Costs

W. I. P, May 31  50,000       100          (35%)             50,000         17500

Completed and

<u>transferred out 181000    100          100                181000           181000      </u>

<u>Total Equivalent Units                                          231,000           198500</u>

The equivalent units are calculated by either adding the beginning work in process and  units started or by adding Ending Wip and completed and transferred units.

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Chevron Phillips (CP) has put into place new laboratory equipment for the production of chemicals; the cost is $1,770,000 instal
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Depreciation          362,000

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Income tax              131,600

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Cash Flows:

Net income               $197,400

Depreciation             362,000

After-tax cash flow $559,400

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