Ask Question
BusinessBusiness
26 March, 02:16

A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete. Using the FIFO method, what are the equivalent units produced if all direct material and direct labor are added uniformly throughout the process? A. 83B. 70C. 100D. 77E. 107

+3
Answers (1)
  1. 26 March, 02:44
    0
    The correct answer is C. 100

    Explanation:

    Data

    Units in opening Work-In-Progress (WIP) 65

    Units added?

    Units transferred out 77

    Units in closing WIP 30

    Units added=Units transferred out+Units in closing WIP-Units in opening Work-In-Progress (WIP) = 77+30-65=42

    Equivalent Units in production

    Beginning WIP (% to complete) + Started and completed+Ending WIP

    Beginning WIP 52 (65 x 80%) (20% complete at the previous period, 80% in this period)

    Started and completed 42

    Ending WIP 6 (30 x 20%) (20% complete in this period)

    Total = 52+42 + 6 = 100
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Nicholas is a teenager who has a violent, abusive family. Which action will he most likely engage in as a result of his family environment?
Answers (1)
You purchased 1,000 shares of the New Fund at a price of $23 per share at the beginning of the year. You paid a front-end load of 2.5%. The securities in which the fund invests increase in value by 9% during the year. The fund's expense ratio is 1.
Answers (1)
The average number of units earned per semester by college students is suspected to be rising. A researcher at Calendula College wishes to estimate the number of units earned by students during the spring semester at Calendula.
Answers (1)
Suppose the price elasticity of supply for cheese is 0.6 in the short run and 1.4 in the long run. If an increase in the demand for cheese causes the price of cheese to increase by 15%, then the quantity supplied of cheese will increase bya. 0.
Answers (1)
Blanchard Company manufactures a single product that sells for $190 per unit and whose total variable costs are $150 per unit. The company's annual fixed costs are $635,000.
Answers (1)
New Questions in Business
The 2017 balance sheet of Dream, Inc., showed current assets of $4,810 and current liabilities of $2,230. The 2018 balance sheet showed current assets of $5,360 and current liabilities of $2,970.
Answers (1)
Information about the cause of death listed on a death certificate may be unreliable because:
Answers (1)
In 2009, 1 U. S. dollar purchased 1600 Korean won and in 2013 it purchased 800 Korean won. How much did 1000 Korean won cost in U. S. dollars in 2009 and 2013? Group of answer choices 2009:.84 dollars, 2013: 1.09 dollars 2009:.62 dollars, 2013: 1.
Answers (1)
structural changes must an organization undertake to switch from a product to a customer orientation?
Answers (1)
A successful quality strategy begins with A. an understanding of the principles of quality. B. satisfying customers and obtaining a competitive advantage. C. engaging employees in the necessary activities to implement quality. D.
Answers (1)
Home » Business » A department had 65 units which were 20% complete in beginning Goods in Process Inventory. During the current period, 77 units were transferred out. Ending Goods in Process Inventory was 30 units which were 20% complete.
Sign Up Forgot Password?