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Compute the equivalent units for conversion costs

Assignment Help Accounting Basics
Reference no: EM132013341

Problem 1 - Missouri Corporation shows the following information concerning the work in process at its plant:

  • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete).
  • Started this month, 59,500 units.
  • Transferred out, 50,900 units.
  • Ending inventory, 19,300 units (materials are 100 percent complete; conversion costs are 15 percent complete).

Required:

a. Compute the equivalent units for materials using the weighted-average method.

b. Compute the equivalent units for conversion costs using the weighted-average method

Problem 2 - Missouri Corporation shows the following information concerning the work in process at its plant:

  • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete).
  • Started this month, 59,600 units.
  • Transferred out, 50,000 units.
  • Ending inventory, 19,700 units (materials are 100 percent complete; conversion costs are 17 percent complete).

Required:

(a) Compute the equivalent units for materials using FIFO.

(b) Compute the equivalent units for conversion costs using FIFO.

Reference no: EM132013341

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