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The Kirkland Department of Delta Company Began the Month of December

question 133

Essay

The Kirkland Department of Delta Company began the month of December with beginning work in process of 4000 units that are 100% complete as to materials and 30% complete as to conversion costs. Units transferred out are 10000 units. Ending work in process contains 8000 units that are 100% complete as to materials and 60% complete as to conversion costs.
Instructions
Compute the equivalent units of production for materials and conversion costs for the month of December.

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Definitions:

Collection Policies

Guidelines established by a business to manage the collection of accounts receivable or debts owed to it.

Subsidiary Ledger

a detailed ledger that contains the financial transactions of a specific subsidiary account, summarizing its details, and supporting the general ledger.

Control Account

A general ledger account that summarizes the balances of a set of detailed subsidiary ledger accounts.

General Ledger

A complete record of all financial transactions over the life of a company, serving as the primary source of information used to create financial statements.

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