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    RosieJ74 Posts: 33, Reputation: 2
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    #1

    Apr 25, 2006, 05:07 PM
    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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