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bonufazy [111]
3 years ago
10

During August, the Filtering Department of Speedwell, Inc. Had a beginning Work-IN Process Inventory balance of 160 units with c

osts of $ 60,000. During the month, it started and completed 290 units. It had 30 units in the ending Work-in Process Inventory. What is the number of equivalent units of production for transferred in units in the Filtering Department in August under the first-IN, first-out (FIFO) method?
Business
1 answer:
Veseljchak [2.6K]3 years ago
8 0

Answer: 320 units

Explanation:

The equivalent units of production for transferred in units in the Filtering Department in August under the first-in, first-out (FIFO) method goes thus:

Total units completed= 160 units + 290 units = 450 units

Beginning WIP = 160 units

Ending WIP = 30 units

Equivalent units of production:

= 450 + 30 - 160

= 480 - 160

= 320 units

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Answer:

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So,

Updated asset value = $6,549+$44

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