| Fact Pattern: Levittown Company employs a process cost system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately. Levittown’s production quantity schedule for November is reproduced in thenext column. | |
|---|---|
| Work-in-process November 1 | |
| (60% complete as to conversion costs) | 1000 |
| Units started during November | 5000 |
| Total units to account for | 6,000 |
| Units completed and transferred out from beginning inventory | 1000 |
| Units started and completed during November | 3000 |
| Work-in-process on November 30 | |
| (20% complete as to conversion costs) | 2000 |
| Total units accounted for | 6000 |