Business accounting
Data is for a production company:
Beginning inventory 1000 units, 3/4 completed
Finished and transferred 16000 units
Work in process, end of month 2000 units 1/2 completed
All materials, labor, and factory overhead are added evenly throughout the process
a. Using the average cost method, compute the equivalent production.
I got 17,000
b. Using FIFO, compute the equivalent production.
I got 19,000
c. During the month, Dept B received 10000 units from Dept A with a unit cost of 10.00; 2000 of the units were lost during the production in Dept B. Determine the adjusted cost of these units.
I got 98,000
d. During the month, Dept 2 received 8000 units from Dept 1 with a unit cost of 15.00; Dept 2 added materials that increased the number of units by 50%. Determine the adjusted cost of these units.
I got 125,000
Can somebody please review and tell me how I did?
Thank you very much in advance!!
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