The Rolling Department of Keystone Steel Company had 400 tons in beginning work in process inventory (20% complete). During the period, 7,900 tons were completed. The ending work in process inventory was 1,000 tons (30% complete). What are the total equivalent units for conversion costs?
Answer:
Percent
Total Conversion Equivalent
Whole Completed Units for
Units in Period Conversion
Inventory in process, beginning of period……………… 400 80% 320
Started and completed during the period……………… 7,500* 100% 7,500
Transferred out of Rolling (completed)………………… 7,900 7,820
Inventory in process, end of period……………………… 1,000 30% 300
Total units to be assigned costs………………………… 8,900 8,120
* 7,900 – 400
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