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Q1) In Ramirez company, materials are entered at starting of each process. Work in process inventoried, with precentage of work done on conversion costs, and production data for its Stenrilizing Department in chosen months in 2008 are as follows.

Beginning Work in Process Ending Work in Process
Month Units Conversion Cost% Units Transferred Out Units Conversion Cost%
January -0- --- 7,200 2,700 60
March -0- --- 13,300 3,100 30
May -0- --- 17,000 5,300 80
July -0- --- 11,000 1,900 40

find out physical units for January and May.

  January May
Units to be accounted for Beginning Work in Process    
Started in production    
Total units    
Units accounted for Transferred Out    
Ending Work in Process    
Total units    

find out equivalent units of product for (1) materials and (2) conversion cost for each month.

  Materials Conversion costs
January    
March    
May    
July    

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M918213

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