East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved ? processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2016 are provided below:
Work-in-proce
A. 6,830 equivalent units.
Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-average and the FIFO methods. Cost per equivalent unit for conversion under the FIFO method is calculated to be:
Data for July:
Work-in-process inventory, July 1 (36,
C. $3.00
Matrix Inc. calculates cost for an equivalent unit of production using both the weighted-average and the FIFO methods.
Data for July:
Work-in-process inventory, July 1 (36,000 units):
Direct materials (100% completed)= $122,400
Conversion (50% completed)=
C. $2.40.
Stoltenberg Co. had the following information for the month of June:
Work in process beginning inventory, June 1
=2,000 units
Units transferred in =16,000 units
Work in process ending inventory, June 30
= 4,000 units
How many units were completed in June?
D. 14,000
Stoltenberg Co. had the following information for the month of June:
Work in process beginning inventory, June 1
=2,000 units
Units transferred in =16,000 units
Work in process ending inventory, June 30
= 4,000 units
Beginning work-in-process inventory is
D. 16,000
DeFond Company has a process costing 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, July 1 (40% complete for conversion)= 400 Units
C. Option D
The following table was taken from Firm X's Production Cost Report:
Completed and transferred out units
=44,000
Ending work-in-process equivalent units
=6,000
Beginning work-in-process equivalent units
= 10,000
What is the number of FIFO equivalent units?
B. 40,000