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question equivalent units this period only note the company completes items in begin 4285274

Question

Equivalent Units (This Period Only)

Note: The company completes items in beginning inventory first.

Using the above information and the FIFO method, calculate the balance for the WIP inventory account (in dollars) at the end of the period. (Round to nearest dollar after calculations are complete. Do not round early.)

 

 

Equivalent Units (This Period Only)

Flow of Production

Physical Units    

Direct Materials      

Conversion Costs      

WIP: Beginning

2000

 

 

Started during current period

7000

 

 

To account for

9000

 

 

 

 

 

 

Completed & transferred out during current period

 

 

 

          From Beginning WIP (0% DM, 60% CC this period)

2000

0

1200

          Started and Completed (100% DM, 100% CC)

4000

4000

4000

WIP: Ending (100% DM, 30% CC)

3000

3000

900

Units accounted for

9000

 

 

Equivalent units of work done THIS PERIOD

 

7000

6100

       

 

 

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