Problem:
Data for Cascio Company are given in BE16-8. Production records indicate that 18,000 units were transferred out, and 2,000 units in ending work in process were 50% complete as to conversion cost and 100% complete as to materials. Prepare a cost reconciliation schedule.
The Smelting Department of Mathews Manufacturing Company has the following production and cost data for November.
Production: Beginning work in process 2,000 units that are 100% complete as to materials and 20% complete as to conversion costs; units transferred out 8,000 units; and ending work in process 7,000 units that are 100% complete as to materials and 40% complete as to conversion costs.Compute the equivalent units of production for (a) materials and (b) conversion costs for the month of November.