Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,300 models. During the month, the company completed 11,900 models, and transferred them to the Distribution Department. The company ended the month with 1100 models in ending inventory. There were 2700 models in beginning inventory. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The FIFO method of process costing is being followed. Beginning work in process was 25% complete as to conversion costs, while ending work in process was 50% complete as to conversion costs.
How many of the units that were started and completed during October?
Definitions:
Producer/Manufacturer
An entity or individual responsible for creating and producing goods or services to meet consumer demand.
Financial Shrewdness
The trait of having an astute understanding and smart management of financial resources.
Effectively
In a manner that produces the intended or desired result with efficiency.
Exchange Process
The act of giving one thing and receiving another, especially in terms of goods, services, or monetary value, between parties.
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