Clean Corporation manufactures liquid window cleaner. The following information

Question

Clean Corporation manufactures liquid window cleaner. The following information concerns its work in process:

-Beginning inventory, 39,700 partially complete gallons.
-Transferred out, 210,900 gallons
-Ending inventory (materials are 21 percent complete; conversion costs are 9 percent complete).
-Started this month, 235,100 gallons.

(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.

Explanation / Answer

     CALCULATION OF EQUIVALENT UNITS

MATERIALS CONVERSION COSTS

OUTPUT 210900 210900

(+) CLOSING WIP 13419 (21%) 5751 (9%)

EQUIVALENT UNITS 224319 216651

(WEIGHTED AVERAGE METHOD)

WORKINGS

  INPUT OUTPUT

OPENING WIP 39700 CLOSING WIP 63900 (BALANCING FIGURE)   

INTRODUCED 235100 OUTPUT 210900

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