47) The following information is provided by Gibson Company: WIP inventory, January 1 0 units Units started 20,000 units Units completed and transferred out 17,500 units WIP inventory, December 31 2,500 units Direct materials $25,300 Direct labor $17,400 Manufacturing overhead $26,700 The units in ending WIP inventory were 85% complete for materials and 35% complete for conversion costs. Required A. What are the total equivalent units for direct materials? B. At the end of the year, what are the equivalent units for conversion costs?

47) The following information is provided by Gibson Company: WIP inventory, January 1 0 units Units started 20,000 units Units completed and transferred out 17,500 units WIP inventory, December 31 ...

47) The following information is provided by Gibson Company:

WIP inventory, January 1	0 units
Units started	20,000 units
Units completed and transferred out	17,500 units
WIP inventory, December 31	2,500 units
Direct materials	$25,300
Direct labor	$17,400
Manufacturing overhead	$26,700

The units in ending WIP inventory were 85% complete for materials and 35% complete for conversion costs.

Required

A.
What are the total equivalent units for direct materials?

B.
At the end of the year, what are the equivalent units for conversion costs?

May 15, 2022