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Accounting Exam ACC 102

Peter M

Peter M

Business Statistics | Research Methods

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The first production department of Stone Incorporated reports the following for April.

Units Direct Materials Conversion
Percent Complete Percent Complete
Beginning work in process inventory 62,000 70% 30%
Units started this period 332,000
Completed and transferred out 310,000
Ending work in process inventory 84,000 90% 40%

(a) Compute the number of units started and completed this period for the first production department.

(b) Compute the number of equivalent units of production for both direct materials and conversion for the first production department for April using the FIFO method.

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