Reference no: EM133014508
Question - In manufacturing its products, Real Corp. adds all direct material at the beginning of the production process. The company's direct labor and overhead are considered to be continuously at the same degree of completion. September production information is as follows:
Units
Beginning WIP inventory 24,000
Started during September 600,000
Completed during September 608,000
As of September 1, the beginning WIP Inventory was 45% completed as to labor and overhead. On September 30, the ending WIP Inventory was 65% completed as to conversion cost.
Required -
1. Determine the total number of units to be accounted for if Real uses the average process costing method.
2. Determine the equivalent units of production for direct materials.
3. Determine the equivalent units of production for conversion.
B. Assume that Real Corp. in No. 1 above uses to FIFO method of process costing.
4. What are the equivalent units of production for direct materials?
5. What are the equivalent units of production for conversion?
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