Reference no: EM133065313
Question - During NOVEMBER, the following activities and cost flows were recorded for the first production department of a company that uses the FIFO method for its product costing purpose:
All materials are added at the beginning of the process and conversion cost are added evenly during the process.
Beginning WIP had 800 units, 60% complete with respect to conversion. Cost in the beginning WIP included material cost of $5600 and conversion cost of $2210.
During November, 9,200 units were started in process. Costs added during the period were materials, $67,160; and conversion, $41,490.
At the end of November, total 9,500 units were completed and transferred-out to the next department. The remaining ending WIP was 40% complete with respect to conversion.
What are the total equivalent units of production for materials and for conversion?
A) Materials: 10,000; Conversion; 9380
B) Materials: 9,600; Conversion; 9,680
C) Materials: 9,200; Conversion; 9,220
D) Materials: 8700; Conversion; 9,320