Question

In order to compute equivalent units of production using the FIFO method of process costing, work for the period must be broken down to units A. completed during the period and units in ending inventory.B. started during the period and units transferred out during the period.C. completed from beginning inventory, started and completed during the month, and units in ending inventory.D. processed during the period and units completed during the period.

Answer 1

Answer:

C. completed from beginning inventory, started and completed during the month, and units in ending inventory

Explanation:

During the period, the work done is:

the last part of the beginning WIP

If BI is at 40% complete

During the period 60% is assign to this period cost

the started and complete, those count entirely, as they are finished.

and the equivalent work of the endind inventory

this is also work done during the period, so it should be accounted to assing cost into.