Question

Department R had 5,000 units in work in process that were 71% completed as to labor...

Department R had 5,000 units in work in process that were 71% completed as to labor and overhead at the beginning of the period. During the period, 27,100 units of direct materials were added, 29,600 units were completed, and 2,500 units were 20% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. The first-in, first-out method is used to cost inventories. The number of equivalent units of production for conversion costs for the period was

a.31,550

b.37,100

c.26,550

d.29,600

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Answer #1

Answer- The number of equivalent units of production for conversion costs for the period was= 26550 units (Option c).

Explanation-

Statment of Equivalent Production units
Under FIFO Method
Particluars Input Units Particulars Output Units Equivalent Production
% Conversion Costs
Opening Work in process 5000 Opening Work in process 5000 29 1450
Units introduced 27100 Units completed (Transferred to next process) [153600 units-500 units] 24600 100 24600
Closing work in process 2500 20 500
Total 32100 32100 26550
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