Clonex Labs, Inc., uses a process costing system. The following data are availab

Question

Clonex Labs, Inc., uses a process costing system. The following data are available for one department
for October:

Percent Completed

The department started 398,000 units into production during the month and transferred 409,000 completed units to the next department.

Compute the equivalent units of production for October, assuming that the company uses the weighted-average method of accounting for units and costs.

materials

conversion

Clonex Labs, Inc., uses a process costing system. The following data are available for one department
for October:

Percent Completed

Units Materials Conversion   Work in process, October 1 48,000 95% 55%   Work in process, October 31 37,000 73% 45%

Explanation / Answer

equivalent units of production

   units percentage of completion equivalent units

material :

units completed and out 409000 100% 409000

work in progress ending 37000 73% 27010   

     436010

Conversion :

units completed and out 409000 100% 409000

work in progress ending 37000 45% 16650

     425650

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