Greenfields Productions Manufacture Thousands of Electric-Powered Lawn Mowers Required:
A

Greenfields productions manufacture thousands of electric-powered lawn mowers.To cost their products,they use the FIFO method of process costing.The following information was available for the current year:
$\begin{array}{lcc}& \text {Number } & \text {Production } \\&\underline{ \text {of units } } &\underline{\text { costs }}\\ \text { Beginning work-in-process ( \( 20 \% \) complete) } &20000&\$15000\\ \text { Goods completed in the period } &150000&280000\\ \text { Ending work-in-process ( \( 30 \% \) complete) } &10000\\\end{array}$

Required:
A. How many total equivalent units were completed during the year?
B. What was the cost per equivalent unit?
C. What is the cost allocated to the ending work-in-pracess units?
D. What is cost of goods manufactured for the year?

Correct Answer:

Verified

A. Total equivalent urits


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