Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...

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Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...

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	51,000	90	%	60	%
Work in process, October 31	37,000	66	%	50	%

The department started 401,000 units into production during the month and transferred 415,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

business accounting

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Answer 1

Answer #1

Solution:

Clonex Lab Inc.
Computation of Equivalent unit of Production
Particulars	Physical Units	Material	Conversion
Units to account for:
Beginning WIP	51000
Started into Production	401000
Total units to account for	452000
Units accounted for:
Unit completed & Transferred out	415000	415000	415000
Units in ending inventory:	37000
Material (66%)		24420
Conversion (50%)			18500

Equivalent units of production	452000	439420	433500

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Answer 2

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