PROBLEM 1. Pfizer Company had 3,000 units in WIP on October 1, 2021, which were 60% complete as to conversion cost. During October, 10,000 units were completed. On October 31, 4,000 units remained in WIP which were 40% complete as to conversion cost. Direct materials are added at the beginning of the process. How many units were started in October?

PROBLEM 1. Pfizer Company had 3,000 units in WIP on October 1, 2021, which were 60% complete as to conversion cost. During October, 10,000 units were completed. On October 31, 4,000 units remained in WIP which were 40% complete as to conversion cost. Direct materials are added at the beginning of the process. How many units were started in October?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 5EA: A company has 1,500 units in ending work in process that are 30% complete after transferring out...

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