Question
1.) A firm uses the FIFO method for process costing. It has 193 units in beginning WIP inventory at 42% complete with respect to conversion
1.) A firm uses the FIFO method for process costing. It has 193 units in beginning WIP inventory at 42% complete with respect to conversion costs. It starts 18,264 units during the period and has 159 units in ending inventory (these units are 11% complete with respect to conversion costs). All direct materials are added at the beginning of the process.
What are total equivalent units with respect to conversion costs (round final answer to the nearest unit, for this question only)?
2.)
A firm uses the weighted average method for process costing. It has 806 units in beginning WIP inventory at 16% complete with respect to conversion costs. It starts 21,726 units during the period and has 153 units in ending inventory (these units are 16% complete with respect to conversion costs). All direct materials are added at the beginning of the process.
What are total equivalent units with respect to conversion costs (round final answer to the nearest unit, for this question only)?
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Applications Of Statistical Sampling To Auditing
Authors: Alvin A. Arens, James K. Loebbecke
1st Edition
0130391565, 978-0130391568
