Question

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:

		Percent Completed
	Units	Materials		Conversion
Work in process, October 1	52,000	85	%	55	%
Work in process, October 31	34,000	68	%	49	%

The department started 392,000 units into production during the month and transferred 410,000 completed units to the next department.

Required Compute the equivalent units of production for October. Materials Conversion Equivalent units of production

Answer 1

		Units
Reconciliation of Units
A	Opening WIP	52,000
B	Introduced	392,000
C=A+B	TOTAL	444,000
D	Transferred	410,000
E=C-D	Closing WIP	34,000

Statement of Equivalent Units
		Material		Conversion Cost
	Units	Complete %	Equivalent units	Complete %	Equivalent units
Transferred	410,000	100%	410,000	100%	410,000
Closing WIP	34,000	68%	23,120	49%	16,660
Total	444,000	Total	433,120	Total	426,660

Answer

	Material	Conversion
Equivalent Units of Production	433,120	426,660