When using the first-in,first-out method of process costing,equivalent units for work done during this period is equal to the number of units:
A)In work-in-process at the beginning of the period times the percent of work necessary to complete the items,plus the number of units started and completed during the period,plus the number of units remaining in work-in-process at the end of the period times the percent of work done during the period.
B)In work-in-process at the beginning of the period,plus the number of units started during the period,plus the number of units remaining in work-in-process at the end of the period times the percent of work necessary to complete the items.
C)Started into process during the period,plus the number of units in work-in-process at the beginning of the period.
D)Transferred out during the period,plus the number of units remaining in work-in-process at the end of the period times the percent of work necessary to complete the items.

Question

Quizplus · Accepted Answer

The FIFO method calculates equivalent units by considering the work needed to complete beginning inventory, units started and completed during the period, and the work done on ending inventory.

When Using the First-In,first-Out Method of Process Costing,equivalent Units for Work