Question

The assembly division of Walton Time Pieces, Inc. uses the weighted-average method of process costing. Consider the following data for the month of May 2017: (Click the icon to view the data.) Requirement Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. Enter the physical units first, then calculate the equivalent units. Data Table Physical Flow of Production Units Conversion Work in process beginning Costs $83,200 Started during current period 85 To account for Completed and transferred out during current period Physical Units Direct (Watches) Materials Beginning work in process (May 1) $464,000 Started in May 2017 510 Completed during May 2017 450 Ending work in process (May 31) 145 Total costs added during May 2017 $3,215,000 aDegree of completion: direct materials, 80%; conversion costs, 35%. bDegree of completion: direct materials, 80%; conversion costs, 40%. $1,390,000 Work in process, ending Accounted for Equivalent units of work done to date Print Done Done]

Answer 1

Solution

Flow of Production	Physical Units	Direct material	Conversion costs
Work in process, Beginning	85
Started during the period	510
To Account for	595
Completed and transferred out during the current period	450	450	450
Work in process, Ending	145	116	58
Accounted for	595	566	508
Equivalent units of work to date		566	508