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 40,500 14,000 44 % March 0 41,400 8,800 72 July 0 46,100 17,300 25

Explanation / Answer

Equivalent unit = Number of units * % of completion

Material conversion January 40500* 100%= 40500 14000*44%=6160 March 41400*100%= 41400 8800*72% =6336 July 46100*100% = 46100 17300*25% = 4325

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