Logan,Inc ,Had 9,000 Units of Work in Process in Department

question 34

Essay

Logan,Inc. ,had 9,000 units of work in process in Department M on March 1 that were 50 percent complete as to conversion costs.Materials are introduced at the beginning of the process.During March,18,000 units were started,20,000 units were completed,and there were 1,000 units of normal losses.Logan had 6,000 units of work in process at March 31 that were 70 percent complete as to conversion costs.Under Logan's cost accounting system,lost units reduce the number of units over which total cost can be spread.Using the average cost method,what were the equivalent units for March for conversion costs?

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Definitions:

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments not included in cash equivalents.

Treasury Stock

Treasury stock consists of shares that were issued and later reacquired by the issuing corporation, reducing the amount of outstanding stock on the open market.

Machinery

Equipment consisting of complex systems and components used in industrial operations or manufacturing processes.

Investing Activities

Transactions involving the acquisition or disposal of long-term assets and other investments not included in cash equivalents.