Answer:
Total Equivalent Units Materials= 231,000
Total Equivalent Units Conversion Costs= 198500
Explanation:
Concord Company
Given
Physical Units
Work in process, May 1 (65%) 60800
Completed and transferred out 181000
Work in process, May 31 (35%) 50000
All materials are added at the beginning of the production process.
Particulars Units % of Completion Equivalent Units
Mat. Conversion Costs Mat. Conversion Costs
W. I. P, May 31 50,000 100 (35%) 50,000 17500
Completed and
transferred out 181000 100 100 181000 181000
Total Equivalent Units 231,000 198500
The equivalent units are calculated by either adding the beginning work in process and units started or by adding Ending Wip and completed and transferred units.
