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A company uses the weighted average method for inventory costing. At the beginning of a period...

A company uses the weighted average method for inventory costing. At the beginning of a period the production department had 20,000 units in beginning work in process inventory which were 40% complete, the department completed and transferred 165,000 units. At the end of the period,22,000 units were in the ending work in process inventory and are 75% complete. Compute the number of equivalent units produced by the department.

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Answer #1

Number of equivalent units produced by the department = 181500

Explanation;

Equivalent units = Units completed and transferred + (Ending WIP * % complete)

Equivalent units = 165000 + (22000 * 0.75)

Equivalent units = 165000 + 16500

= 181500

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