§
2,000
§
61,591
§
2,000
§
41,975 103,566 Work in progress, closing
(500 physical units)
§
500
§
31.8182 15,909
§
125
§
21.1970 2,650 18,559 Accounted for
2,500
77,500 2,125 44,625 122,125
*
Opening work in progress is 100% complete as to direct materials, so zero equivalent units of direct materials need to be added to complete opening work in progress.
†
Opening work in progress is 40% complete as to conversion costs, which equals 120 equivalent units of conversion costs. To complete the 300 physical units of opening work in progress, 180 (300 − 120) equivalent units of conversion costs need to be added.
‡
2,000 total equivalent units completed and transferred out (Solution Exhibit A) minus 300 equivalent units completed and transferred from opening stock equals 1,700 equivalent units.
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