Solution-Using the fifo method the number of equivalent

Using the fifo method the number of equivalent units

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Reference no: EM131818240

Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July's activities:

On July 1:
Beginning inventories	850 units, 60% complete
Direct materials cost	$5,000
Conversion costs	$4,000

During July:
Number of units started	15,000
Direct materials added	$155,000
Conversion costs added	$83,520

On July 31:
Ending inventories	1,600 units, 40% complete

Using the FIFO method, the number of equivalent units of conversion costs was

Reference no: EM131818240

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Using the fifo method the number of equivalent units

Reference no: EM131818240

Reference no: EM131818240

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