Problem - FIFO - Equivalent Production The equivalent production of 22,000 units under the average costing is
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Question:
Problem - FIFO - Equivalent Production
The equivalent production of 22,000 units under the average costing is arrived at as follows:
Finished and transferred - | 20,000 units x 100% = 20,000 |
In process, March 31 - | 3,000 units x 2/3 = 2,000 |
QUESTION:
With the beginning work in process consisting of 5,000 units, 1/5 done, what should be the equivalent production under FIFO?
(Solutions must be in good accounting form. Excel form would be good! Account Titles on the left, Amounts on the right. Put tables if necessary. Avoid parenthetical solutions. Thanks a lot!)
Related Book For
Vector Mechanics for Engineers Statics and Dynamics
ISBN: 978-0073398242
11th edition
Authors: Ferdinand Beer, E. Russell Johnston Jr., David Mazurek, Phillip Cornwell, Brian Self
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