question archive The following data related to North Company during May 2020
The following data related to North Company during May 2020
Subject:AccountingPrice:2.84 Bought3
The following data related to North Company during May 2020. Physical units Direct Conversion costs materials Work in process, beginning inventory 1,000 $5,000 $8,000 Degree of completion of WIP beginning 100% 70% Started during the may 9,000 Good units completed and transferred out 8,000 Work in process ending 1,500 Degree of completion of WIP, ending 100% 60% Costs added during May $15,000 $25,000 Direct materials are added at the beginning of process. Conversion costs are incurred evenly throughout the production cycle. Normal spoilage is 5% of goods unit. If the company uses the FIFO method, the total equivalent units is Select one: O a. 10,000 DM and 6,750 CC O b. 9,000 DM and 8,400 CC O C. 10,000 DM and 8,400 CC O d. 9,000 DM and 6,750 CC
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Option B
DM =
Closing DM = 15,000
Opening DM = (5,000)
During the year = 10,000
