A firm uses the weighted average method for process costing. It has 247 units in beginning WIP inventory at 26% complete with respect to conversion costs. It starts 12,011 units during the period and has 425 units in ending inventory (these units are 46% complete with respect to conversion costs). All direct materials are added at the beginning of the process.
What are total equivalent units with respect to conversion costs (round final answer to the nearest unit, for this question only)?
Answer-Total equivalent units with respect to conversion costs are = 12029 units.
Explanation-
| Statement of Equivalent Production units | |||||
| Under Weighted-Average Method | |||||
| Particulars | Input Units | Particulars | Output Units | Equivalent Production | |
| % | Conversion Costs | ||||
| Opening Work in process | 247 | Units completed (Transferred to next process) | 11833 | 100 | 11833 |
| Units introduced | 12011 | ||||
| Closing work in process | 425 | 46 | 196 | ||
| Total | 12258 | 12258 | 12029 | ||
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