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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Answer #1

Answer:

Equivalent units for the conversion cost = 957,000 units.

Calculations:

Statement of Equivalent Production
Input Particulars Output Material Conversion cost
% Units % Units
       90,000.00 Opening Stock        90,000.00 0%                      -   30%     27,000.00
1,020,000.00 Put and processed      870,000.00 100%      870,000.00 100% 870,000.00
Closing stock      150,000.00 100%      150,000.00 40%     60,000.00
1,110,000.00 Total 1,110,000.00 1,020,000.00 957,000.00

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