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Process Accounts - abitrini - 04-18-2011
Process Accounts
Units $ Units $
Opening WIP 250 3000 Normal loss 225 450
Input Output 4100
Materials 4500 22500 Abnormal Loss 275
Labour 37500 Closing WIP 150
4750 4750
Work in progress has the following level of completion
Material Labour
Opening WIP 100% 40%
Closing WIP 100% 30%
the company uses the FIFO method for valuing the outputt from the process and all losses occurred at the end of the process.
What were the equivalent units for labour?
A. 4380 units
B. 4270 units
C. 4320 units
D. 4420 units
Show all working