Ask Question
BusinessBusiness
14 December, 17:02

A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete. Using the FIFO method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process? A. 83B. 70C. 100D. 77E. 107

+1
Answers (1)
  1. 14 December, 20:00
    0
    The correct answer is C. 100

    Explanation:

    Data

    Units in opening Work-In-Progress (WIP) 65

    Units added?

    Units transferred out 77

    Units in closing WIP 30

    Units added=Units transferred out+Units in closing WIP-Units in opening Work-In-Progress (WIP) = 77+30-65=42

    Equivalent Units in production

    Beginning WIP (% to complete) + Started and completed+Ending WIP

    Beginning WIP 52 (65 x 80%) (20% complete at the previous period, 80% in this period)

    Started and completed 42

    Ending WIP 6 (30 x 20%) (20% complete in this period)

    Total = 52+42 + 6 = 100
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Cash received before services are performed may be recorded as a debit to a Cash account and a credit to a liability account is calleda. an unearned revenueb. an accrued revenue. c. accounts payabled. None of these answer choices are correct. e.
Answers (1)
The interest rate that banks charge one another on over night loans is called the
Answers (1)
Which of the following is characteristic of members from high-performing teams? A. They view conflict as unhealthy and counterproductive. B. They approach work with a judgmental mind-set. C.
Answers (1)
In modern corporations-especially those in the United States and the United Kingdom-a primary objective of corporate governance is to ensure that the interests of top-level managers are aligned with the interests of shareholders. a. true b. false
Answers (1)
Miranda is an executive for a company that manufactures dental tools. Her company prefers to measure progress by what percentage of the total business in the marketplace it controls. What is her company most interested in
Answers (1)
New Questions in Business
36. A manufacturer's or supplier's use of an independent third party to manage an entire function of the logistics system, such as transportation, warehousing, or order processing, is called: a. outsourcing. b. mediation. c.
Answers (2)
The demand for salt is inelastic, and the supply of salt is elastic. The demand for caviar is elastic, and the supply of caviar is inelastic.
Answers (1)
A match is an example of something that stores what?
Answers (1)
For the following statement, state the relevant elasticity and state what its value should be (negative, positive, greater than one, zero, and so on). The demand for European vacations increases during times of rising incomes. a.
Answers (1)
What are the two basic parts of a management plan?
Answers (1)
Home » Business » A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete.
Sign Up Forgot Password?