General Electric manufactures turbines and provides the following annual data. How many turbines were transferred to finished goods during the year? Beginning Work in Process (30% complete, $1,300) 220 units
Ending inventory of work in Process (70% complete) 420 units
Total units started during the year 3,400 units
a. 3,392 uns.
b. 3,400 units.
c. 3.200 uniks.
d. 3,848 units.
Which is associated with process cost accounting but is not normally associated with job cost accounting?
A. Determining cost of goods sold.
B. Identifiable units of production.
C. Use of Job Cost Sheet.
D. Equivalent units of production.

a. 3,200 units

D. Equivalent units of production.

Explanation:

The computation of the number of units transferred to finished goods is as follows:

=  Opening work in progress+ Total units started during the year - Closing work in progress

= 220 units + 3,400 units - 420 units

= 3,200 units

The equivalent unit of production deals with the process costing but not with the job costing

In the case of process costing, the work in process should be considered

While on the other hand, the job costing, the production does not held on a continuous basis

For example, Bank of Baroda, State Bank of India (SBI), Dena Bank, Corporation Bank and Punjab National Bank.