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 Materials Conversion Total $2,160 $192,075 $33,770$225,845 $198,155 $35,930$234,085 $ 8,240 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

Explanation / Answer

Equivalent unit of material :

So answer is d) 295500

Physical unit % EUP-material Beginning wip 40000 70% 28000 Unit started and completed 250000 100% 250000 ENding work in process 50000 35% 17500 Total 340000 295500

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