Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

jacob and eric inc. has 6000 units in beginning work in process, 30% complete as to conversion costs, 60000 units transferred out to finished goods

jacob and eric inc. has 6000 units in beginning work in process, 30% complete as to conversion costs, 60000 units transferred out to finished goods and 2000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to material costs.

How much are equivalent units for conversion costs if the FIFO method is used

a)60400 b)64600 c)56000 d) 58600

How much are equivalent units for material if the FIFO method is used?

a) 60400 b)62000 c)56000 d)68000

How much are equivalent units for conversion costs if the WEIGHTED AVERAGE method is used?

a)60400 b)64600 c)56000 d)58600

Please show how to get the answer

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Auditing Standards For Islamic Financial Institutions

Authors: Mohd MaSum Billah

1st Edition

103206353X, 978-1032063539

More Books

Students also viewed these Accounting questions