Cordon Processing uses a process costing system to account for its solvent plant.Beginning inventory consisted of 14,000 gallons (80% complete as to material,55% complete as to labor).Cordon added 213,000 gallons into the process during April.On April 30^th there were 18,000 gallons still in process (60% complete as to material,45% complete as to labor).Required:
(a)Calculate the equivalent units of production for each input,assuming Cordon uses weighted-average.(b)Calculate the equivalent units of production for each input,assuming Cordon uses FIFO.

Question

Quizplus · Accepted Answer

The Answer of Cordon Processing uses a process costing system to account for its solvent plant.Beginning inventory consisted of 14,000 gallons (80% complete as to material,55% complete as to labor).Cordon added 213,000 gallons into the process during April.On April 30^th there were 18,000 gallons still in process (60% complete as to material,45% complete as to labor).Required: (a)Calculate the equivalent units of production for each input,assuming Cordon uses weighted-average.(b)Calculate the equivalent units of production for each input,assuming Cordon uses FIFO.

Cordon Processing Uses a Process Costing System to Account for Its