Question: jacob and eric inc. has 6000 units in beginning work in process, 30% complete as to conversion costs, 60000 units transferred out to finished goods

jacob and eric inc. has 6000 units in beginning work in process, 30% complete as to conversion costs, 60000 units transferred out to finished goods and 2000 units in ending work in process 20% complete as to conversion costs. The beginning and ending inventory is fully complete as to material costs.

How much are equivalent units for conversion costs if the FIFO method is used

a)60400 b)64600 c)56000 d) 58600

How much are equivalent units for material if the FIFO method is used?

a) 60400 b)62000 c)56000 d)68000

How much are equivalent units for conversion costs if the WEIGHTED AVERAGE method is used?

a)60400 b)64600 c)56000 d)58600

Please show how to get the answer

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!

Waterway's Manufacturing has 7900 units in beginning Work in Process, 25% complete to conversion costs, 15600 units transferred out to Finished Goods, and 1700 units in ending Work in Process 15%...

Sheffield's Manufacturing has 7000 units in beginning Work in Process, 10% complete to conversion costs, 15700 units transferred out to Finished Goods, and 1700 units in ending Work in Process 5%...

c company has 6000 units in beginning work in process, 30% complete as to conversion costs, 60,000 units transferred out to finished goods and 2000 units in ending work in process 20% complete as to...

Chicotti Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 60,000 units transferred out to finished goods, and 2,000 units in ending work in process 20%...

12. Chicotti Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to finished goods, and 2,000 units in ending work in process 20%...

Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to finished goods, and 2,000 units in ending work in process 20% complete as to...

Chicotti Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to finished goods, and 20,000 units in ending work in process 20%...

Question 20 Company has 6,000 units in beginning work in process, 30% complete as to conversion costs, 75,000 units transferred out to Inished goods, and 2,000 units in ending work in process 20%...

Waterway's Manufacturing has 7900 units in beginning Work in Process, 25% completed to conversion costs, 15600 units transferred out to Finished Goods, and 1700 units in ending Work in Process 15%...

Please complete all 8 parts. Use the weighted average method of process costing for PART ONE, and the FIFO method of process costing for PART TWO. ! Required information [The following information...

9. When conducting detailed substantive procedures, auditors search for evidence that: a) the client's internal control system is operating effectively. b) all transactions have been recorded in the...

Consider teh following structure H2C=O. What is the hybridization of the carbon atom? What is the H-C-O bond angle? What is the functional group? What orbitals overlap in the C-H bonds?

19. Rapel Valley in Chile is renowned for its ability to produce high-quality wine at a fraction of the cost of many other vineyards around the world. Rapel Valley produces over 20 million bottles of...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

(Appendices) COST OF PURCHASES. Compass, Inc., purchased 1,000 bags of insulation from Glassco, Inc. The bags of insulation cost $4.25 each. Compass paid Turner Trucking $260 to have all 1,000 bags...

(Appendices) PURCHASES AND PURCHASES RETURNS. On November 6, Lubin Products purchased on credit 350 parts kits from Michaels Electronics for $38 per kit. Michaels paid $320 to have the kits shipped...

(Appendices) TERMS OF SHIPMENT AND RECORDING PURCHASES. On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.0.B. shipping point, had a total invoice price...