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zysi [14]
3 years ago
15

Ozdemir Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the

most recent month are listed below:
Beginning work in process inventory: Units in beginning work in process inventory Materials costs Conversion costs Percent complete with respect to materials Percent complete with respect to conversion Units started into production during the month Units transferred to the next department during the month Materials costs added during the month Conversion costs added during the month Ending work in process inventory: Units in ending work in process inventory Percent complete with respect to materials Percent complete with respect to conversion 400 $ 2,200 $ 800 55% 10% 5,400 4,900 $ 78,800 $132,800 900 85% 70%
What are the equivalent units for conversion costs for the month in the first processing department?
Business
1 answer:
Paul [167]3 years ago
4 0

Answer:

$5,490

Explanation:

Computation for the equivalent units for conversion costs

To complete beginning work in process inventory 360

[400*(1-10%)]

Units started and completed 4,500 (4,900-400)

Ending work in process inventory 630 (900*70%)

Equivalent units for Conversion costs $5,490 units

Therefore the equivalent units for conversion costs is $5,490

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1 year ago
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1 year ago
In her work in the publishing industry, vera seeks out new authors who she considers promising. in the past two years she has fo
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3 years ago
Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the
QveST [7]

Answer:

total equivalent units for materials = 6,310

Explanation:

700 units in beginning work in process:

  • materials: 70% complete, $8,700, completed 490 equivalent units, not completed 210 units
  • conversion: 10% complete, $3,700

units started in to production 6,400

units transferred out 5,600

ending work in process 1,500

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materials added $92,200

conversion costs added $269,600

equivalent units for materials:

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  • ending WIP = 1,200 equivalent units
  • total equivalent units for materials = 6,310
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3 years ago
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