Question:

Elmo has the following information for the month of October, its first month of operations

Work in Process October 1st $0

Units completed & transferred out in October $120,000

Work in Process October 30th $32,000

100% completed for materials

80% completed for conversion costs

Costs added in October shown below

Materials $145,900

Direct Labour $ 96,000

Overhead $108,000

(1.) Determine the equivalent units of production for October.

(2.) Determine the cost of the ending work-in-process. (3.) Determine the cost of goods completed. (4) What is meant by the term equivalent full units?