Mathematics · Cost Accounting
INK operates a process costing system for product W3. In December, there were no opening work-in-progress, losses, or gains. 2,500 litres of raw material were input, and 2,000 litres of finished product were output. Closing work-in-progress was 100% complete for materials and 40% complete for labour and conversion costs. What were the equivalent units of closing work-in-progress in the period?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Materials: 2,500, Conversion costs: 2,200
- 2Materials: 2,000, Conversion costs: 500
- 3Materials: 500, Conversion costs: 200✓
- 4Materials: 2,500, Conversion costs: 1,000
Correct answer
Materials: 500, Conversion costs: 200
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