a plant that uses process costing has 8,000 units in beginning work

A plant that uses process costing has 8,000 units in beginning work in process, 15,000 more started, and 5,000 units in the ending work in process. Using this information, answer the following questions on a separate sheet of paper. Label each answer carefully and show all of your work.

a. How many units are there to account for?

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b. How many units are transferred using the average cost method?

c. How many units are transferred using the first-in, first-out method?

d. How many units were both started and completed during the period?

 

 

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