The following information pertains to the company: Work in process, 1/1 (20% complete) 8000 units Started...
The following information pertains to the company:
Work in process, 1/1 (20% complete) 8000 units
Started in January 40000 units
Work in process, 1/31 12000 units
Materials are added at the beginning of the process. If equivalent units of production for conversion using the weighted average method was 39,000, ending work in process at 1/31 must have been
A. 15% complete
B. 30% complete
C. 25% complete
D. 97.5% complete
Homework Answers
Correct answer-----------(C) 25% Complete
Working
| Statement of Equivalent Units(Weighted average) | |||||||
| Material | Conversion cost | ||||||
| Units | Complete % | Equivalent units | Complete % | Equivalent units | |||
| Transferred | 36,000 | 100% | 36,000 | 100% | 36,000 | ||
| Closing WIP | 12,000 | 100% | 12,000 | 25% | 3,000 | ||
| Total | 48,000 | Total | 48,000 | Total | 39,000 | ||
Units transferred +Units in ending Inventory = equivalent units
Equivalent units = 39000
So 36000+Equivalent Units in ending=39000
Units in Equivalent ending inventory =39000-36000=3000
Whole units in ending inventory = 12000
Equivalent units in ending inventory = 3000
% of completion in ending units = 3000/12000=25%
Add Answer to:
The following
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