Question

Materials are added at the beginning of the production process at Campo Company. Campo uses a...

Materials are added at the beginning of the production process at Campo Company. Campo uses a FIFO process costing system. The following information on the physical flow of units is available for the month of November:

Beginning work in process (70% complete) 90,000
Started in November 1,020,000
Completed in November and transferred out 960,000
Ending work in process (40% complete) 150,000

Required:

Compute the equivalent units for the conversion cost calculation.

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Homework Answers

Answer #1

Answer- Equivalent units for the conversion cost= 957000 units.

Explanation-

PRODUCTION COST REPORT
FIFO METHOD
PARTICULARS PHYSICAL UNITS EQUIVALENT UNITS
CONVERSION COSTS
Quantities
Units to be accounted for
Beginning work in process 90000
Add- Started into production 1020000
Total units 1110000
Units accounted for
Beginning work in process 90000 90000*(1-.70)=27000
Transferred out for 870000 870000*100%= 870000
Ending work in process 150000 150000*40% =60000
Total units 1110000 957000
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