Question

The following production data were taken from the records of the finishing department for June: Inventory...

The following production data were taken from the records of the finishing department for June:

Inventory in process, June 1, 25% completed 340 units
Transferred to finished goods during June 5,100 units
Equivalent units of production during June 5,495 units

Determine the number of equivalent units of production in the June 30, finishing department inventory, assuming that the first-in, first-out method is used to cost inventories. The completion percentage of 25% applies to both direct materials and conversion costs.

a.720 units

b.576 units

c.480 units

d.384 units

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Answer #1

Solution:

Equivalent unit of production during june = 5495

Total unit transferred to finished goods during june = 5100 units

Units completed from beginning WIP = 340 units

Unit started and completed during the period = 5100 - 340 = 4760 units

Equivalnt unit of beginning WIP completed during the period = 340*75% = 255 units

Equivalent units in ending inventory of finishing department = Total equivalent units - Equivalent units of beginning WIP Completed during june - Equivalent units of unit started and completed during june

= 5495 - 255 - 4760 = 480 units

Hence option c is correct.

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