Question

Rodrick Corporation experienced the following during April: Beginning work-in-process inventory 7,500 units, 40% of conversion added...

Rodrick Corporation experienced the following during April:

Beginning work-in-process inventory 7,500 units, 40% of conversion added this period
Units started this period 64,000 units
Ending work-in-process inventory 5,000 units, 60% of conversion added this period


Materials are added at the beginning of the process and conversion occurs uniformly throughout the process. If the company uses FIFO costing, what are the equivalent units for direct materials and conversion?

66,500; 66,500

66,500; 72,000

71,500; 69,500

64,000; 65,000

None of these.

Business   Accounting   
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Answer #1

D. 64,000; 65,000

The equivalent units for materials and conversion costs would be calculated as follows:

Materials Costs Conversion Costs
Completed and transferred out:
From beginning work in process 7,500 7,500
Started and completed 59,000 59,000
Total completed and transferred-out 66,500 66,500
In work in process ending inventory 5,000 3,000
Total units accounted for 71,500 69,500
Less work from beginning work in process (7,500) (4,500)
New work done in April 64,000 65,000
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