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Question - Equivalent Units of Production - Uneven Application (With beginning inventory)
Omega Company has a process cost system. All materials are introduced at the beginning of the process in Department One. The following information is available for the month of January:
Work in process, 1/1 (40% completed as to conversion costs) 500 units
Started in January 2,000 units
Transferred to Department Two during January 2,100 units
Work in process, 1/31 (25% completed as to conversion costs) 400 units
What are the EUP for the month of January for Materials and Conversion Costs under FIFO and Weighted Average Method?
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