The following production data were taken from the records of the Finishing Depar

Question

The following production data were taken from the records of the Finishing Department for June:

Inventory in process, 6-1 (30% completed ) 4,000 units

Completed units during June 58,000 units

Ending inventory (60% completed) 3,000 units

Determine the number of material equivalent units of production in the June 30 Finishing Department inventory, assuming that the firstin, first-out method is used to cost inventories and materials were added at the beginning of the process

a. 57,000 units

b. 62,600 units

c. 58,600 units

d. 57,600 units

e. None of the above

THANK YOU!

Explanation / Answer

For solving the problem, we need to determine the actual production which has taken place during the month of June Particulars Qty Stage Completion Equivalent in June Qty Opening WIP 4000 30% 70% completed 2800 complete Completed Units 58000 100% 58000 60800 Closing WIP 3000 60% completed 1800 Equivalent Units of Production actually completed 59000 So the answer is NONE OF THE ABOVE

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