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gizmo_the_mogwai [7]
3 years ago
13

The Chart Company has a process costing system. All materials are added when the process is first begun. At the beginning of Sep

tember, there were no units of product in process. During September 50,000 units were started; 5,000 of these were still in process at the end of September and were 3/5 finished. The equivalent units for the conversion costs in September were_______________.
a. 40,000.
b. 45,000.
c. 48,000.
d. 50,000
Business
1 answer:
Strike441 [17]3 years ago
6 0

Answer:

c) 48,000

Explanation:

<em>Equivalent Units</em>

To apportion cost between work in progress and completed units in a particular period, we use equivalent units. Equivalents units  are notional whole units which represent incomplete work and are used to apportion cost between completed units and work in progress

<em>Equivalent Units = Degree of Completion × Units of products</em>

<em />

<em>Item                                        units          workings                 E.U</em>

Finished products          45,000        100% × 45,000 =     45,000

Closing WIP                      5000             3/5 ×  5000    =       3,000

                          Total equivalent unit                               48,000

Equivalent unit for the conversion cost= 45000 +3000= 48,000

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