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, 36,300 partially complete gallons. • Transferred out, 214,000 gallons. • Ending inventory (materials are 19 percent complete; conversion costs are 11 percent complete). • Started this month, 244,200 gallons. 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.

Explanation / Answer

Weighted Average Method Statement of Equivalent production Particulars Direct Materials %completion Equivalent mat Conversion %completion Equivalent Conv Opening WIP              36,300.00 100%                 36,300.00              36,300.00 100%                 36,300.00 Units started and completed(214,000-36,300)            177,700.00 100%               177,700.00            177,700.00 100%               177,700.00 Closing WIP(244,200 - 177,700)              66,500.00 19%                 12,635.00              66,500.00 11%                    7,315.00 Equivalent Units               226,635.00               221,315.00

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