The following company manufactures a product that goes through three processing departments. Information relating to activity...
The following company manufactures a product that goes through three processing departments. Information relating to activity in the first department during a given month is provided below. Percentage Completed Units Materials Conversion WIP, Jan 1 140,000 65% 45% WIP, Jan 31 120,000 75% 65% The department started 580,000 units into production during the month and transferred 600,000 completed units to the next department.
REQUIRED: Compute the total equivalent units of production for materials and conversion costs for the given month, assuming that the company uses the weighted-average method of accounting for units and costs.
Homework Answers
|
Material |
Conversion Cost |
|
|
Opening WIP (Jan 1) |
140000 |
140000 |
|
Units Started & Completed (600000 – 140000) |
460000 |
460000 |
|
Closing WIP 31 Jan |
(120000*75%) =90000 |
(120000*65%) =78000 |
|
Equivalent Units |
690000 |
678000 |
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