Use the Following Information to Perform the Calculations Requested Below,assuming

question 62

Essay

Use the following information to perform the calculations requested below,assuming that the FIFO costing approach to a process costing system is being used.
Beginning work in process inventory: 16,000 units,100 percent complete as to direct materials,85 percent complete as to conversion costs
Ending work in process inventory: 36,000 units,100 percent complete as to direct materials,70 percent complete as to conversion costs
Units started during the month: 59,000
a.Calculate units to be accounted for during the month.
b.Calculate units started and completed during the month.
c.Calculate equivalent units for direct materials.
d.Calculate equivalent units for conversion costs.

---

Definitions:

Risk-free Rates

Theoretical return rates on an investment assumed to have no risk of financial loss, typically represented by the yield on government securities.

Spot Exchange Rate

The spot exchange rate is the current price at which one currency can be exchanged for another for immediate delivery.

Futures Price

Futures Price is the agreed-upon price for the purchase or sale of a particular asset at a future date, determined in the futures market.

Stock Index Futures

Futures contracts to buy or sell a specific stock index at a predetermined price on a specified future date, used for hedging or speculating on the direction of the stock market.