Question: A first-in, first-out (FIFO) process cost system is used to account for the cost of producing a chemical compound. As part of production, Material B

A first-in, first-out (FIFO) process cost system is used to account for the cost of producing a chemical compound. As part of production, Material B is added when the goods are 72% complete. Beginning work-in-process inventory for the current month was 18,000 units, 90% complete. During the month, 63,000 units were started in process, and 58,500 of these units were completed. There were no lost or spoiled units. If the ending inventory was 67% complete, the total equivalent units for Material B for the month was:

Please show explanation. Thank you

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!