Weston Products manufactures an industrial cleaning compound that goes through t

Question

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below:

Work in Process—Grinding Department

  Inventory, May 1 332,400

Completed and transferred to
the Mixing Department

?
  Materials 544,100
  Conversion 347,216

  Inventory, May 31 ?

The May 1 work in process inventory consisted of 120,000 pounds with $198,000 in materials cost and $134,400 in conversion cost. The May 1 work in process inventory was 100% complete with respect to materials and 80% complete with respect to conversion. During May, 290,000 pounds were started into production. The May 31 inventory consisted of 72,000 pounds that were 100% complete with respect to materials and 70% complete with respect to conversion. The company uses the weighted-average method to account for units and costs.

Required:

1. Determine the equivalent units of production for May.

  

Explanation / Answer

Statement showing equivalent units of production

Units % Units % units Opening WIP 120000 0 0 20% 24000 Units completed and transfered 218000 100% 218000 100% 218000 Closing WIP 72000 100% 72000 30% 21600 Equivalent units 290000 263600

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