Department S had 500 units 70% completed in process at the beginning of the period, 7,600 units completed during the period, and
900 units 53% completed at the end of the period. What was the number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories? Assume the completion percentage applies to both direct materials and conversion cost.
1 answer:
Answer:
7,727 units
Explanation:
According to the scenario, computation of the given data are as follows:
Department S beginning = 500 units
Completed % in process = 70%
Total completed during period = 7,600 units
End of period = 900 units 53 % completed
So, we can calculate the units of production using FIFO method.
Check attachment for the Solution.
The attachment is attached below.
You might be interested in
The Adams Manufacturing has allocated its total overhead costs by a sum of $17,200, which is over-applied.
<h3>What are overhead costs?</h3>The expenses or costs, which are incurred by a business, which are completely unrelated to the production or manufacturing of the firm's goods or services, are known as overhead costs. They are indirect costs.
The computation of the overhead costs will be as follows,
Hence, option E holds true regarding the overhead costs.
Learn more about overhead costs here:
#SPJ1