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The production report for Matthews, Inc included the following information for May: Number of...

Question:

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?

a) 47,500

b) 58,700

c) 50,900

d) 43,100

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:

  1. Units unfinished from the prior period flow into the current period's...

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Calculate Ending Inventory: Formula & Explanation

from Financial Accounting: Help and Review

Chapter 1 / Lesson 6
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