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16 December, 10:55

Multiple Choice Question 64 Concord Company had the following department information about physical units and percentage of completion: Physical Units Work in process, May 1 (65%) 60800 Completed and transferred out 181000 Work in process, May 31 (35%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May

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  1. 16 December, 12:53
    0
    Total Equivalent Units Materials = 231,000

    Total Equivalent Units Conversion Costs = 198500

    Explanation:

    Concord Company

    Given

    Physical Units

    Work in process, May 1 (65%) 60800

    Completed and transferred out 181000

    Work in process, May 31 (35%) 50000

    All materials are added at the beginning of the production process.

    Particulars Units % of Completion Equivalent Units

    Mat. Conversion Costs Mat. Conversion Costs

    W. I. P, May 31 50,000 100 (35%) 50,000 17500

    Completed and

    transferred out 181000 100 100 181000 181000

    Total Equivalent Units 231,000 198500

    The equivalent units are calculated by either adding the beginning work in process and units started or by adding Ending Wip and completed and transferred units.
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Home » Business » Multiple Choice Question 64 Concord Company had the following department information about physical units and percentage of completion: Physical Units Work in process, May 1 (65%) 60800 Completed and transferred out 181000 Work in process, May 31
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