In March, Kelly Company had the following unit production costs: materials $10 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 22,000 units. As of March 31, 4,000 units that were 40% complete as to conversion costs and 100% complete as to materials were in ending work in process. Required:
a. Compute the total units to be accounted for.
b. Compute the equivalent units of production.
c. Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.

Following are the solution to the given points:

Explanation:

For point a:

The total units to be accounted for units

For point b:

The total material equivalent units =   finished units units

The total conversion equivalent units = finished units +

For point c:

Calculating the total cost reconciliation schedule:

Cost accounted for finished goods            

Cost of material in the process    

material work in process

conversion cost in the process                                                                                                                    

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

u = 30

continuing your method

= +

subtract from both sides

= - thus

= -

= ⇒ u = 30