Under the weighted average method, equivalent units are calculated based on 2 things: units completed and transferred out and units in ending work in process inventory.
Beginning work in process units = 1,800 units
Units started = 9,300 units
Units completed and transferred = 7,300 units
Ending work in process units = Beginning work in process units + Units started - Units completed and transferred
= 1,800 + 9,300 - 7,300
= 3,800 units
Equivalent units of conversion costs = units completed and transferred out + units in ending work in process inventory x Percentage complete
= 7,300 + 3,800 x 35%
= 7,300 + 1,330
= 8,630
First option is correct
Please ask if you have any query related to the question. Thank you
can someone please help with this practice problem Annenbaum Corporation uses the weighted average method in...
Annenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the fest processing department consisted of 2.000 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete Materials costs Conversion costs Cost $7,300 $8,400 A total of 9.700 units were started and 7.500 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:...
Annenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 900 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 658 45% Cost $6,200 $ 7,300 Materials costs Conversion costs A total of 7,500 units were started and 6,400 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,200 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,500 65% Conversion costs $ 7,600 45% A total of 8,100 units were started and 6,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,400 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,700 65% Conversion costs $ 8,800 45% A total of 10,500 units were started and 7,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 500 units. The costs and percentage completion of these units in beginning inventory were: Percent Complete 658 Cost $5,800 $6,900 Materials costs Conversion costs 456 A total of 6,700 units were started and 6,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during...
Annenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,200 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Cost $7,500 $8,600 Percent Complete 65% 45% A total of 10,100 units were started and 7,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,800 65% Conversion costs $ 7,900 45% A total of 8,700 units were started and 7,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,500 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 6,800 65% Conversion costs $ 7,900 45% A total of 8,700 units were started and 7,000 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...
Annenbaum Corporation uses the weighted average method in its process costing system. This month, the beginning inventory in the first processing department consisted or 1300 The costs and percentage completion of these units in beginning inventory were Percent Complete 65% Cost $6,600 $7,700 Materials costs Conversion costs A total of 8.300 units were started and 6.800 units were transferred to the second processing department during the month The following costs were incurred in the department during the month proceng Materials...
Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 600 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 5,900 65% Conversion costs $ 7,000 45% A total of 6,900 units were started and 6,100 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department...