COST ACCOUNTING
PROCESS COSTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The Mixing Department’s output during the period consists of 20, 000 units completed and transferred out, and 5, 000 units in ending work in process 60% complete as to materials and conversion costs. Beginning inventory is 1, 000 units, 40% complete as to materials and conversion costs. The equivalent units of production for conversion costs are:
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22, 600
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23, 000
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24, 000
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25, 000
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Explanation:
Detailed explanation-1: -ANSWER: The equivalent units of production is the sum of units completed and transferred out (20, 000) and the equivalent units of ending work in process inventory (5, 000 units X 60%) or 20, 000 + 3, 000 = 23, 000 units.
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