The following equivalent unit figures were taken from the December production cost report of the Distillation Department

Question:

The following equivalent unit figures were taken from the December production cost report of the Distillation Department of Oil City Lubricants.
Equivalent Units ...............................................Direct Materials .........Conversion
Equivalent units to finish beginning inventory . . . . . . . . . . . . . . . . . ....0 ..................1,000
Equivalent units to start new units in December . . . . . . . . . . . . . . 54,000................. 43,000
Equivalent units of input in December . . . . . . . . . . . . . . . . . . . . . .54,000 ................44,000
If the Distillation Department's on December 31 is comprised of 12,000 equivalent units of direct materials and 1,000 equivalent units of conversion, how many units were started and completed by the department during December?
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...