Ohio, Inc., which uses a process-cost accounting system, began - 15541

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  • Posted on: Thu 07 Mar, 2013
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Ohio, Inc., which uses a process-cost accounting system, began operations on January 1 of the current year. The company incurs conversion cost evenly throughout manufacturing. If Ohio started work on 9,500 units during the period and these units were 60% of the way through manufacturing, it would be correct to say that the company has:
 
3,800 equivalent units of production.
 
9,500 equivalent units of production.
 
5,700 completed units.
 
9,500 physical units in production.
 
3,800 in-process units.
                                       

Solution Description

 

Ohio, Inc., which uses a process-cost accounting system, began operations on January 1 of the current year. The company incurs conversion cost evenly throughout manufacturing. If Ohio started work on 9,500 units during the period and these units were 60% of the way through manufacturing, it would be correct to say that the company has: