Asked by Nakaila Lovett on May 07, 2024
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Super-Tech Industries had the following department information about physical units and percentage of completion: Physical Units Work in process, June 1(75%) 8,000 Completed and transferred out 22,000 Work in process, June 30(50%) 12,000\begin{array} { l c } & \text { Physical Units } \\\text { Work in process, June } 1 ( 75 \% ) & 8,000 \\\text { Completed and transferred out } & 22,000 \\\text { Work in process, June } 30 ( 50 \% ) & 12,000\end{array} Work in process, June 1(75%) Completed and transferred out Work in process, June 30(50%) Physical Units 8,00022,00012,000 If materials are added at the beginning of the production process what is the total number of equivalent units for materials during June?
A) 19000.
B) 34000.
C) 36000.
D) 28000.
Equivalent Units
A concept in cost accounting used to denote the amount of work done on incomplete units, expressed in terms of fully completed units.
Physical Units
A measure of production output or inventory in terms of the actual number of units, as opposed to the cost or value of the units.
Percentage of Completion
A method of accounting for long-term contracts in which income is recognized as a proportion of work completed at certain stages.
- Master the concept of equivalent units in production concerning process costing.
- Analyze equivalent quantities for materials and costs of conversion.
- Understand the vital importance of the step at which raw materials are introduced into the production line.
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Learning Objectives
- Master the concept of equivalent units in production concerning process costing.
- Analyze equivalent quantities for materials and costs of conversion.
- Understand the vital importance of the step at which raw materials are introduced into the production line.
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