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Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 71,000 units. Transferred out, 68,000 units. Ending inventory, 34,000 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using FIFO. Compute the equivalent units for conversion costs using FIFO. A. Materials: 71,000     B. Conversion Costs: ????                                                                                                                                                                                        Need help please

Kronk, Incorporated provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete). Started this month, 71,000 units. Transferred out, 68,000 units. Ending inventory, 34,000 units (materials are 100 percent complete; conversion costs are 60 percent complete). Required: Compute the equivalent units for materials using FIFO. Compute the equivalent units for conversion costs using FIFO. A. Materials: 71,000     B. Conversion Costs: ????                                                                                                                                                                                        Need help please

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 5E: The Converting Department of Worley Company had 2,400 units in work in process at the beginning of...
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Kronk, Incorporated provides the following information concerning the work in process at its plant:

  • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 10 percent complete).

  • Started this month, 71,000 units.

  • Transferred out, 68,000 units.

  • Ending inventory, 34,000 units (materials are 100 percent complete; conversion costs are 60 percent complete).

Required:

  1. Compute the equivalent units for materials using FIFO.
  2. Compute the equivalent units for conversion costs using FIFO.

    A. Materials: 71,000

     

     

    B. Conversion Costs: ????                                                                                                                                                                                        Need help please 
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