Question

The Finishing Department had 5,200 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 30% complete as to conversion costs. 15,400 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,200 units which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing.
Required:
A) How many units were transferred-out during the period?

Answer 1

Answer:

The total amount of units were transferred-out during the period iv 18,400 units

Explanation:

Beginning Work-in-Process = 5,200 incomplete units

Units received from previous department = 15,400 units

Ending Work-in-Process = 2,200 units

Units were transferred-out during the period = beginning Work-in-Process Inventory + units were received - ending Work-in-Process Inventory

Units were transferred-out during the period = 5,200 + 15,400 - 2,200

= 18,400 units