Richards Corporation uses the FIFO method of process costing. The following information is availab October in...
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Richards Corporation uses the FIFO method of process costing. The following information is availab October in its Fabricating Department: Units: Beginning Inventory: 81,000 units, 80% complete as to materials and 20% complete as to conversio Units started and completed: 251,000. Units completed and transferred out: 332,000. Ending Inventory: 30,500 units, 30% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of conversion. Multiple Choice • 251,000 • 320,375 • 284,450 • 367,075 • 371,650 Richards Corporation uses the FIFO method of process costing. The following information is availab October in its Fabricating Department: Units: Beginning Inventory: 81,000 units, 80% complete as to materials and 20% complete as to conversio Units started and completed: 251,000. Units completed and transferred out: 332,000. Ending Inventory: 30,500 units, 30% complete as to materials and 15% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $37,200. Costs in beginning Work in Process - Conversion: $79,700. Costs incurred in October - Direct Materials: $646,800. Costs incurred in October - Conversion: $919,300. Calculate the equivalent units of conversion. Multiple Choice • 251,000 • 320,375 • 284,450 • 367,075 • 371,650
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Correct Answer Option 2 320375 units Working EUP FIFO Me... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
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