Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please explain step by step For each of the following four independent scenarios, determine the information requested. A . In the beginning inventory, 5 ,

please explain step by step
For each of the following four independent scenarios, determine the information requested.
A. In the beginning inventory, 5,000 units were 40 percent complete with respect to materials. During the period, 40,000 units were transferred out. Ending inventory consisted of 7,000 units that were 70 percent complete with respect to materials. How many units were started and completed during the period?
B. At the start of the period, 4,000 units were in the work-in-process inventory; 3,000 units were in the ending inventory. During the period, 9,500 units were transferred out to the next department. Materials and conversion costs are added evenly throughout the production process. FIFO costing is used. How many units were started during the period?
C. Beginning inventory amounted to 1,000 units. This period, 4,500 units were started and completed. At the end of the period, the 3,000 units in inventory were 30 percent complete. Using FIFO costing, the equivalent production for the period was 5,600 units. What was the percentage of completion of the beginning inventory?
D. The ending inventory included $87,000 for conversion costs. During the period, 42,000 equivalent units were required to complete the beginning inventory, and 60,000 units were started and completed. The ending inventory represented 10,000 equivalent units of work this period. FIFO costing is used. What were the total conversion costs (())
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions