Solution-Compute the equivalent units for materials using

Compute the equivalent units for materials using FIFO

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Reference no: EM133041427

Problem - Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

Beginning inventory, 37,000 partially complete gallons.

Transferred out, 213,000 gallons.

Ending inventory (materials are 19 percent complete; conversion costs are 11 percent complete).

Started this month, 241,000 gallons.

Assume that beginning inventory is 50 percent complete with respect to materials and 28 percent complete with respect to conversion costs.

Required -

a. Compute the equivalent units for materials using FIFO.

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

Reference no: EM133041427

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Compute the equivalent units for materials using FIFO

Reference no: EM133041427

Reference no: EM133041427

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