Jane Industries manufactures plastic toys. During October, Jane's Fabrication Department started work on 10,000 models. During the month, the company completed 11,300 models, and transferred them to the Distribution Department. The company ended the month with 2000 models in ending inventory. There were 3300 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 30% complete as to conversion costs, while ending work in process was 55% complete as to conversion costs.
What were the equivalent units for conversion costs during October?
Definitions:
Epistemological Questions
Queries regarding the nature, scope, and sources of knowledge.
Two-tailed Hypothesis
A statistical test hypothesis that allows for the possibility of an effect in two directions, either greater than or less than a specified range or parameter.
One-tailed Hypothesis
A directional statistical hypothesis that specifies an expected relationship or difference in one direction between variables or groups.
Null Hypothesis
A default hypothesis that there is no statistical significance or effect in the relationship between two measured phenomena.
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