1C2F JONES CORPORATION USES A FIRST-IN, FIRST-OUT (FIFO) PROCESS COST...

199. CSO: 1C2b LOS: 1C2f

Jones Corporation uses a first-in, first-out (FIFO) process costing system. Jones has the

following unit information for the month of August.

Units

Beginning work-in-process inventory, 100% complete

for materials, 75% complete for conversion cost 10,000

Units completed and transferred out 90,000

Ending work-in-process inventory, 100% complete

for materials, 60% complete for conversion costs 8,000

The number of equivalent units of production for conversion costs for the month of

August is

a. 87,300.

b. 88,000.

c. 92,300.

d. 92,700.