The Finishing Department had 5,000 incomplete units in its beginning Work-in-Pro

Question

The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.

A) What are the equivalent units of production for materials during the period?

Explanation / Answer

Solution: Calculation of the equivalent units of production for materials during the period:

Particulars Units Beginning Inventory 0 Add: Started and completed units (15000-2000) 13000 Add: Ending inventory [(2000)*50%] 1000 Equivalent units of production for materials 14000

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