Question

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Percent Completed Units Materials Conversion Work in process, October 1 51,000 85 % 55 % Work in process, October 31 32,000 72 % 51 % The department started 392,000 units into production during the month and transferred 411,000 completed units to the next department. Required: Compute the equivalent units of production for October.

Answer 1

Answer:

EU materials:    434.040‬

EU conversion: 412,632

Explanation:

W/a method count the complete units plus the percnetage of completion in the ending work in process intventory.

Materials:

transferred-out (completed) 411,000

ending WIP inventory

                    32,000 x 72% = 23,040‬

Equivalent untis materials:  434.040‬

Conversion:

transferred-out (completed) 411,000

ending WIP inventory

                    32,000 x 51% =     1,632

Equivalent untis conversion: 412,632

Answer 2

Production is termed as the combination of the mix of the input materials in order to make some products or manufacture goods and services for the consumption of the consumers or the customers in the market.  

EU materials:    434.040‬

EU conversion: 412,632

weighted-average method counts the complete units plus the percentage of completion in the ending work in process inventory.

Materials:

transferred-out (completed) 411,000

ending WIP inventory

$32,000 \times 72\% = 23,040‬$

Equivalent units materials:  434.040‬

Conversion:

transferred-out (completed) 411,000

ending WIP inventory                

$32,000 \times 51\% = 1 ,632$

Equivalent untis conversion = 412,632

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