Use the following to answer questions 13-15: BITTY Company had the following inf

Question

Use the following to answer questions 13-15: BITTY Company had the following information available for the year Beginning inventory of goods in process (40% complete, $1,100) Ending inventory of goods in process (80% complete) Total units started during the year 200 units 400 units 3,200 units 13. The number of units transferred to finished goods during the year is: A) 3,200 units. B) 3,000 units. C) 3,400 units. D) 3,160 units. E) 3,500 units. 14. If the weighted average inventory method were used, the equivalent units for the year would be A) 3,320.00 B) 3,200.00 C) 3,240.00 D) 3,520.00 E) 3,230.00 15. FIFO equivalent units of production for the year are: A) 3,320 units B) 3,200 units. C) 3,240 units. D) 3,520 units. E) 3,420 units.

Explanation / Answer

13 Number of units transferred to finished goods = 200+3200-400 = 3000 units 14 Equivalent units = 3000+(400*80%) = 3320 units 15 Equivalent units = (200*60%)+(3000-200)+(400*80%)= 3240 units

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