Cost of operations during April: beginning work in progress (10% complete) - 300
ID: 2349567 • Letter: C
Question
Cost of operations during April:beginning work in progress (10% complete) - 3000 bags $10,000 production costs
current period production - 20,000 bags $70,240 production costs
Ending work in progress (85% complete) - 5,000 bags
Using the first-in, first-out method of computing equivalent units and assigning product costs.
How many bags were completed during April?
Of the bags completed during April, how many were started and completed during the month?
(Note: Production costs include direct materials and conversion costs for the department.)
Explanation / Answer
total bag produced=0.1*3000+20,000+.85*5000=24550 bags started and completed=70240*3000/10,000=21072