Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 68,000 55% Ending work in process 91,000 70% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 178,000 units.   Required:   Using the FIFO method, reconcile the number of physical units. Using the FIFO method, calculate the number of equivalent units.

Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter6: Process Costing
Section: Chapter Questions
Problem 16E: Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The...
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Stone Company produces carrying cases for CDs. It has compiled the following information for the month of June: Physical Units Percent Complete for Conversion Beginning work in process 68,000 55% Ending work in process 91,000 70% Stone adds all materials at the beginning of its manufacturing process. During the month, it started 178,000 units.
 
Required:
 
Using the FIFO method, reconcile the number of physical units.
Using the FIFO method, calculate the number of equivalent units.
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