Brief Exercise 16-4 Goode Company has the following production data for selected

Question

Brief Exercise 16-4

Goode Company has the following production data for selected months.

Ending
Work in Process

Month

Beginning
Work in Process

Units
Transferred Out

Units

% Complete as to
Conversion Cost

Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.

Materials

Conversion Costs

Ending
Work in Process

Month

Beginning
Work in Process

Units
Transferred Out

Units

% Complete as to
Conversion Cost

January 0 39,300 13,600 44 % March 0 45,000 8,800 71 July 0 48,800 17,600 21

Explanation / Answer

January: Materials 52900 =39300+13600 Conversion Costs 45284 =39300+(13600*44%) March: Materials 53800 =45000+8800 Conversion Costs 51248 =45000+(8800*71%) July: Materials 66400 =48800+17600 Conversion Costs 52496 =48800+(17600*21%)

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