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.

How many units were transferred-out during the period?
Answer
a. 12,000 b. 13,000 c. 18,000 d. 20,000

Explanation / Answer

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. What are the equivalent units of production for materials during the period? Answer

a. 12,000

b. 13,000

c. 14,000

d. 15,000

15,000 - 2,000 = 13,000

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