Solution-Compute the equivalent units for conversion costs

Compute the equivalent units for conversion costs

Reference no: EM132929675

Problem - The following information is available from the Oils Division of Glasgow Corporation for December. Conversion costs for this division were 80 percent complete as to beginning work-in-process inventory and 5D percent complete as to ending work-in-process inventory. Information about conversion costs follows.

	Units	Conversion Costs
WIP at December 1 (80% complete)	20,000	$232,200
Units started and costs incurred during December	108,000	1,306,800
Units completed and transferred to next department during December	80,000	?

The Oils Division uses FIFO.

Required -

1. Compute the equivalent units for conversion costs.

2. Compute the cost per equivalent unit for conversion costs.

3a. What was the conversion cost of work-in-process inventory in the Oils Division at December 31?

3b. What were the conversion costs per equivalent unit produced last period and this period, respectively?

Reference no: EM132929675

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Compute the equivalent units for conversion costs

Reference no: EM132929675

Reference no: EM132929675

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