Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly
Fantastic news! We've Found the answer you've been seeking!
Question:
Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August.
Percent Complete | |||||
Units | Materials | Conversion | |||
Work in process, August 1 | 850 | 50 | % | 40 | % |
Units started into production during August | 9,300 | ||||
Units completed during August and transferred to the next department | 8,300 | ||||
Work in process, August 31 | 1,850 | 70 | % | 30 | % |
Required:
Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the FIFO method.
Posted Date: