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

question 25

Essay

Use the following information to perform the calculations requested below,assuming that the average 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 completed and transferred out during the month.
c.Calculate equivalent units for direct materials.
d.Calculate equivalent units for conversion costs.

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Definitions:

Extrinsic Rewards

External awards to employees such as salary, bonuses, and paid vacations.

Intrinsic Rewards

Rewards derived internally from performing a task or activity, such as satisfaction, enjoyment, or a sense of achievement.

Inherent Rewards

The satisfaction and motivation that come from the work itself rather than from external rewards like money or recognition.

Seniority-Based Pay

Guaranteed wages and salary increases based on the amount of time the employee has spent with the organization.