Ramos corp uses a process costing system to assign costs to

Reference no: EM13483328

Ramos Corp. uses a process costing system to assign costs to its steel production. During March 2013, Ramos had beginning Work in Process Inventory of 180,000 tons of steel (100 percent complete as to material and 65 percent complete as to conversion). During the month, the raw material needed to produce 3,400,000 tons of steel was started in process. At month-end, 165,000 tons remained in WIP Inventory. a) Compute the total units to account for. b) Determine how many units were started and completed. c) Determine the equivalent units of production using the weighted average method. d) Determine the equivalent units of production using the FIFO method. e) Reconcile your answers to parts (c) and (d).

Reference no: EM13483328

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