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Homework answers / question archive / East Bay Fisheries Inc
East Bay Fisheries Inc. processes king salmon for various distributors. Two departments are involved – processing and packaging. Data relating to tons of king salmon processed in the processing department during June 2019 are provided below: Tons of Percent Completed King Salmon Materials Conversion 3,200 87 97 4,500 77 57 9,400 Work-in-process inventory - June 1 Work-in-process inventory – June 30 Started processing during June Total equivalent units for conversion under the FIFO method are calculated to be:
Multiple Choice 13,013 equivalent units. 13,244 equivalent units. 0 11.531 equivalent units. 0 7,561 equivalent units. 8,177 equivalent units.
Answer : Correct Option is 7561 equivalent units.
Reason :
Equivalent Units = Units Completed + Closing Work in progress +Completed Opening Work in progress
Units Completed = Units Started + Work in progress inventory June 1 - Work in progress inventory June 30
= 9400 + 3200 - 4500
= 8100
Out of 8100 ,97% of 3200 completed yherefore remaining = 3200 * 3% = 96
And 4900 100% complete = 4900
And 4500 * 57% = 2565
Equivalent Units = 4900 + 2565 +96 = 7561 units
