Fill in the unknowns: * Degree of completion: direct materials, 80%; conversion costs, 40%. Degree of
Question:
Fill in the unknowns:
* Degree of completion: direct materials, 80%; conversion costs, 40%.
† Degree of completion: direct materials, 40%; conversion costs, 10%.
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(Step 2) Equivalent Units (Step 1) PhysicalUnits Materials Direct Conversion Flow of Production in Units Costs Work-in-process, beginning inventory 20,000* Started 45,000 To account for 65,000 Completed and transferred out Work-in-process, ending inventory 2,000f Units accounted for 65,000 Work done to date Less: Equivalent units of work from previous periods included in beginning inventory Work done in current period only (FIFO method)
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Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
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