Required information The following information applies to th

Required information (The following information applies to the questions displayed belowj in a process manufacturinig system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at the beginning of the perlod. The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process ed Prepare the department\'s equivalent units of production with using the FIFO method for process costing ree separate assumptions Total EUP as to and as to Total EUP K Prev of 11 il Next?

Solution

CASE-1 Units % Material EUP-Mterial Completed from Beg. Wip 24000 0% 0 Units started and completed 56000 100% 56000 Ending Wip 16000 100% 16000 96000 72000 Case-2 Units % Material EUP-Mterial Completed from Beg. Wip 24000 60% 14400 Units started and completed 56000 100% 56000 Ending Wip 16000 75% 12000 96000 82400 Case-3 Units % Material EUP-Mterial Completed from Beg. Wip 24000 40% 9600 Units started and completed 56000 100% 56000 Ending Wip 16000 30% 4800 96000 70400