Use the information below to answer the following questions:
Goody Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The company uses the weighted-average method for process costing. Data for the finishing department follows:

-The total number of physical units for which we have to account is

Question

Use the information below to answer the following questions:
Goody Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The company uses the weighted-average method for process costing. Data for the finishing department follows:
 
-The total number of physical units for which we have to account is

Quizplus · Accepted Answer

The total physical units for which we have to account are 60,000 (starting WIP: 10,000 + units started and completed: 50,000). However, some of these units may still be in process (ending WIP: 3,000), so the equivalent units of production for the finishing department are 57,000 (10,000 + 47,000).

Use the Information Below to Answer the Following Questions