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lol…. i had a feeling it was to do with the units completed in the period….thanks for highlighting that…at least we both got away understanding it…good luck with your exams
Hi i’m a bit confused myself because if you work out the equivalent units for materials I get 18000, (2000+13000+3000) as opening , fully worked and closing units are 100% for material. For Conversion I get 14700 units, (800+13000+900)…based on opening being 40% to be completed in new period, plus fully worked units plus 30% of completed closing wip. The problem is when I calculate cost per equivalent units for materials and conversion. I get 2.83 and 13.14 respectively. So then I worked the Value for closing inventory to be 20235 which isn’t in the list. here is my breakdown: (Materials) – (3000 x 2.83) + (Conversion) – (13.14 x 900) … I don’t know where I’m going wrong but maybe we can help each other.
I worked it out now! Thanks for your help mate, really appreciate it, and good luck to you!