Consider the following data for 20X1: Physical Units Started in 20X1 ........... 70,000 Completed in 20X1 ........
Question:
Consider the following data for 20X1:
Physical Units
Started in 20X1 ........... 70,000
Completed in 20X1 ........ 115,000
Ending inventory, work in process .... 35,000
Beginning inventory, work in process . 80,000
The beginning inventory was 95% complete regarding direct materials and 90% complete regarding conversion costs. The Ending inventory was 25% complete regarding direct materials and 15% complete regarding conversion costs.
Prepare a schedule of equivalent units for the work done to date.
Ending InventoryThe ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Degree of completionmaterials 95 conversion costs 90 Degree ...View the full answer
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Related Book For 
Introduction to Management Accounting
ISBN: 978-0133058789
16th edition
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
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