Twinnings Corporation manufactures Scheduling Books. There are two processes: pr

Question

Twinnings Corporation manufactures Scheduling Books. There are two processes: printing and binding. The following information is given for the printing department for September. (The company uses FIFO inventory assumption.) Units units, beginning work in process 40,000 (30% complete for materials, 70% complete for conversion) started 300,000 completed? units, ending work in process 50,000 (35% complete for materials, 90% complete for conversion) Costs beginning work in process $ 6,080 current costs total costs Material Conversion Total S 2,160 $ 8,240 $192,075 $33,770 $225,845 $198,155 $35,930 $234,085 1. Refer to Figure above. What are the FIFO equivalent units for materials? a. 304,500 b. 294,500 C. 306,500 d. 295,500 e. none of the above 2. Refer to Figure abovel What are the FIFO equivalent units for conversion? a. 306,000 b. 340,000 C. 317,000 d. 307,000 e. none of the above

Explanation / Answer

Equivalent unit ;

1) So answer is d) 295500

2) SO answer is d) 307000

Whole unit % EUP-material % EUP-conversion Beginning wip 40000 70% 28000 30% 12000 Unit started and completed 250000 100% 250000 100% 250000 Ending work in process 50000 35% 17500 90% 45000 Total 340000 295500 307000

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