1) In a proces 6000 units are introduced during a period. 5% of input is normal loss
Closing work-in-process 60% complete is 800 units. 4900 completed units are
transferred to next process. Equivalent production for the period is
(a) 6800 units
(b) 6700 units
(c) 5680 units
(d) 6380 units
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Explanation:
In this article we will discuss about the calculation of work in progress using the concept of equivalent production.
Production is continuous in most of the process industries. On any given day, there may be stocks of material, and stocks of semi-finished product in each process.
Valuation of work-in-progress poses a complicated problem at the time of finalising accounts for a period.
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