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Anuta_ua [19.1K]
3 years ago
5

If 10,000 units which were 50% completed are in process at November 1, 90,000 units were completed during November, and 20,000 w

ere 20% completed at November 30, the number of equivalent units of production for November was 90,000. (Assume no loss of units in production and that inventories are costed by the first-in, first-out method.)
a. true
b. false
Business
1 answer:
kakasveta [241]3 years ago
6 0

Answer:

False

Total equivalent units    89,000 units

Explanation:

<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work. These units are determined as follows:  </em>

Equivalent units = Degree of work done(%) × units of inventory

Item                                          unit                                    Equivalent unit

Opening inventory            10,000    50% ×  10,000                 5000

Fully worked unit                  80,000     100%× 80,000              80,000

Closing inventory              20,000       20% × 20,000              <u>4,000</u>

Total equivalent units                                                              <u> 89,000</u>

<u />

<u>Notes:</u>

<em>1. Fully work represent units started and completed in the same period. They exclude the opening inventory.</em>

<em>Fully worked = 90000- 10,000 =80,000.</em>

<em>2. Note also at that the degree of completion</em> for opening inventory is the simply the balance of work remaining to be done.

<em>For example, for materials, 50% of work has been done on the opening inventory in the last period, hence the balance of 50% would be done this period </em>

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