Pierce & Company provides the following information concerning the work in process at its plant: Beginning...
Pierce & Company provides the following information concerning the work in process at its plant:
- Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete).
- Started this month, 59,500 units.
- Transferred out, 50,600 units.
- Ending inventory, 19,900 units (materials are 100 percent complete; conversion costs are 15 percent complete).
Required:
a. Compute the equivalent units for materials using the weighted-average method.
b. Compute the equivalent units for conversion costs using the weighted-average method.
Homework Answers
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| a. | Equivalent units for Material | = | 70,500 | |||
| b. | Equivalent units for Conversion | = | 53,585 | |||
| Workings: | ||||||
| Equivalent Units of production - weighted average method | Units | % Materials | EUP - Materials | % Conversion | EUP - Conversion | |
| (i) | (ii) | (i) X (ii) | (iii) | (i) X (iii) | ||
| Units completed and transferred out | 50,600 | 100% | 50,600 | 100% | 50,600 | |
| Add: | Ending work - in - process inventory units | 19,900 | 100% | 19,900 | 15% | 2,985 |
| Total EUP | 70,500 | 70,500 | 53,585 |
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Pierce & Company provides the following information
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Pierce & Company provides the following information concerning the work in process at its plant: • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 62 percent complete). • Started this month, 60,100 units • Transferred out, 50,000 units. • Ending inventory, 19,300 units (materials are 100 percent complete; conversion costs are 17 percent complete). Required: a. Compute the equivalent units for materials using the weighted average method. b. Compute the equivalent units for conversion costs...
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Pierce & Company provides the following information concerning the work in process at its plant Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete). Started this month, 59,900 units. Transferred out, 49,900 units. Ending inventory, 20,900 units (materials are 100 percent complete; conversion costs are 14 percent complete). Required: a. Compute the equivalent units for materials using the weighted-average method. b. Compute the equivalent units for conversion costs using the weighted-average method. Equivalent...
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