Question

Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the...

Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 3,300 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 79,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 10,300 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?

Multiple Choice

  • 75,170

  • 72,000

  • 77,150

  • 86,000

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Answer #1
Correct Option A i.e. 75170 Units
Carver Corporation
Production Cost Report (FIFO)
Actual Units
Caluclation of Physical UNITS:
Units in begining inventory 3300
Units started during the period 79000
Units to be accounted for 82300
Actual Units Equivalent Units
Material Conversion
Units Completed and Transferred 72000
   From units in beginning inventory 3300 0 1320
    From units started 68700 68700 68700
Units in ending inventory 10300 10300 5150
Equivalnet Units of Production 82300 79000 75170
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