Beginning Inventory Consisted of 20,000 unites (20 percent converted) and ending inventory consisted of 30,000 units...
Beginning Inventory Consisted of 20,000 unites (20 percent converted) and ending inventory consisted of 30,000 units (40 percent converted). In addition 60,000 units were started during the period. How many equivalent units for conversion costs were produced USING THE WIEGHTED AVERAGE METHOD? Please show work! Thank you!
Homework Answers
Answer
- The correct answer is 62,000 Equivalent units for conversion cost.
- Calculation is as follows
|
Units Reconciliation |
|
|
Units to account for: |
|
|
Beginning WIP |
20,000 |
|
Units started this period |
60,000 |
|
Total Units to account for |
80,000 |
|
Total Units accounted for: |
|
|
Completed & Transferred out |
50,000 [80000 – 30000] |
|
Ending WIP |
30,000 |
|
Total Units accounted for |
80,000 |
|
EUP - Weighted Average Method |
Units |
% Conversion |
EUP - Conversion |
|
Units TRANSFERRED |
50,000 |
100% |
50,000 |
|
Units of ENDING WIP |
30,000 |
40% |
12,000 |
|
Equivalent Units of Production |
62,000 = ANSWER |
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