Brite Ideas, Inc., mass-produces reading lamps. Materials used in constructing the body of the lamp are added
Question:
In June, the lamps in beginning work in process were approximately 70 percent complete, while those in ending work in process were only 40 percent complete. In July, the units remaining in ending work in process were 90 percent complete. All lamps in ending work in process are finished during the next month.
Instructions
a. For the month of June, calculate the equivalent units of production for the three major cost categories-body materials, wiring materials, and labor and overhead.
b. For the month of July, calculate the equivalent units of production for the three major cost categories-body materials, wiring materials, and labor and overhead.
Step by Step Answer:
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello