The Rolling Department of Oak Ridge Steel Company had 8,512 tons in beginning work in process inventory (30% complete) on July 1

Accounting Sep 07, 2020

The Rolling Department of Oak Ridge Steel Company had 8,512 tons in beginning work in process inventory (30% complete) on July 1. During July, 60,800 tons were completed. The ending work in process inventory on July 31 was 4,256 tons (20% complete).

What are the total equivalent units for conversion costs? Round to the nearest whole unit.

Expert Solution

Total equivalent units for conversion costs = Beginning inventory in process + Started and completed + Ending inventory in process

= (8512 × 0.70) + (60,800 - 8512) + (4256 × 0.10)

= 58672 units

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