Question

Multiple Choice Question 64 Concord Company had the following department information about physical units and percentage of completion: Physical Units Work in process, May 1 (65%) 60800 Completed and transferred out 181000 Work in process, May 31 (35%) 50000 If all materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May

Answer 1

Total Equivalent Units Materials= 231,000

Total Equivalent Units Conversion Costs= 198500

Step-by-step explanation:

Concord Company

Given

Physical Units

Work in process, May 1 (65%) 60800

Completed and transferred out 181000

Work in process, May 31 (35%) 50000

All materials are added at the beginning of the production process.

Particulars Units % of Completion Equivalent Units

Mat. Conversion Costs Mat. Conversion Costs

W. I. P, May 31 50,000 100 (35%) 50,000 17500

Completed and

transferred out 181000 100 100 181000 181000

Total Equivalent Units 231,000 198500

The equivalent units are calculated by either adding the beginning work in process and units started or by adding Ending Wip and completed and transferred units.