The production report for Matthews, Inc included the following information for May:
|Number of Units||Completion|
|Beginning units in process||7,800||20%|
|Units transferred to finished goods||45,300|
|Ending units in process||5,600||40%|
How many units were started during the period?
Beginning Inventory, Ending Inventory, and Cost of Goods Sold:
In the production process, there is a logical flow of units from beginning units in process to units finished and transferred out. During the accounting period, some units are completed and transferred out of the production process while others remain in ending inventory. The ending units in process from one period become the beginning units in process for the next.
Answer and Explanation:
The flow of units through the production process may be noted as follows:
- Units unfinished from the prior period flow into the current period's...
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from Financial Accounting: Help and ReviewChapter 1 / Lesson 6