Pierce & Company 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 62 percent complete). Started this month, 60,600 units. Transferred out, 50,400 units. Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 13 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units Materials a. b. Conversion costs

Pierce & Company 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 62 percent complete). Started this month, 60,600 units. Transferred out, 50,400 units. Ending inventory, 20,500 units (materials are 100 percent complete; conversion costs are 13 percent complete). Required: a. Compute the equivalent units for materials using FIFO. b. Compute the equivalent units for conversion costs using FIFO. Equivalent Units Materials a. b. Conversion costs

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2EA: A company started a new product, and in the first month started 100,000 units. The ending work in...

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