Question:
Goode Company has the following production data for selected months.
|
Beginning
|
Units
|
Ending
Work in Process
|
|
%Complete as to
|
|
Month
|
Work in Process
|
Transferred Out
|
Units
|
Conversion Cost
|
|
January
|
-0-
|
35,000
|
10,000
|
40%
|
|
March
|
-0-
|
40,000
|
8,000
|
75
|
|
July
|
-0-
|
45,000
|
16,000
|
25
|
Compute equivalent units of production for materials and conversion costs, assuming materials are entered at the beginning of the process.