Question

Tript Corporation has a process costing system and uses the weighted-average method. The company had 3,000 units in work in process on February 1 that were 60% complete with respect to conversion costs. During the month, 10,000 units were completed. At the end of the month, 4,000 units remained in work in process that were 40% complete with respect to conversion costs. Materials are added at the beginning of the process. How many units were started into production during February?

Answer 1

Answer:

11,000 units were started into production which were 100 % complete for materials and 89.1 % complete for Conversion Costs.

Step-by-step explanation:

With the help of Equivalent Units of Production we find out how many units were started.

11,000 units were started into production.

Tript Corporation              

                          Physical Units      % of Completion                Equivalent Units

                                              w.r.t Conversion Costs     Mat       Conversion C  

Units Started              11,000             89.1%                       11,000           9,800

Beginning WIP             3000               60%                       3000              1800

Total units accounted For                                            14,000                 11600

We compare the Equivalent units and then find the required balance amounts

                      Physical Units      % of Completion                Equivalent Units

                                             w.r.t Conversion Costs       Mat       Conversion C  

Units Completed     10,000             100                            10,000           10,000

WIP Ending               4000               40%                          4000              1600

Total units accounted For                                               14,000               11,600