If 10,000 units which were 50% completed are in process at November 1, 90,000 un

ID: 2361440 • Letter: I

Question

If 10,000 units which were 50% completed are in process at November 1, 90,000 units were completed during November, and 20,000 were 20% completed at November 30, the number of equivalent units of production for November was 90,000. (Assume no loss of units in production and that inventories are costed by the first-in, first-out method.) a. true
b. false If 10,000 units which were 50% completed are in process at November 1, 90,000 units were completed during November, and 20,000 were 20% completed at November 30, the number of equivalent units of production for November was 90,000. (Assume no loss of units in production and that inventories are costed by the first-in, first-out method.) a. true
b. false

Explanation / Answer

Obviously false... As we have to consider the units of day 1 and 30 also which will be ((50/100)*10000)+((20/100)*20000) = 5000+4000 = 9000 Total units being 90000+9000 = 99000

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If 10,000 units which were 50% completed are in process at November 1, 90,000 un

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