Production data: Pounds in process, May 1: materials 100% complete; conversion 9

Question

Production data:       Pounds in process, May 1: materials 100%  complete;
         conversion 90% complete 73,000          Pounds started into production during May 380,000          Pounds completed and transferred to the next department ?          Pounds in process, May  31: materials 80% complete;
        conversion 20% complete 33,000      Cost data:       Work in process inventory, May 1:         Materials cost $ 111,600           Conversion cost $ 55,800       Cost added during May:         Materials cost $ 580,320           Conversion cost $ 306,810   
The company uses the weighted-average method.
Required: 1. Compute the equivalent units of production.
Materials Conversion   Equivalent units of production
how do i find the equivalent units of production? Production data:       Pounds in process, May 1: materials 100%  complete;
         conversion 90% complete 73,000          Pounds started into production during May 380,000          Pounds completed and transferred to the next department ?          Pounds in process, May  31: materials 80% complete;
        conversion 20% complete 33,000      Cost data:       Work in process inventory, May 1:         Materials cost $ 111,600           Conversion cost $ 55,800       Cost added during May:         Materials cost $ 580,320           Conversion cost $ 306,810   

Explanation / Answer

pounds completed and transferred to the next dept/

73000 + 380000 = x - 33000

==> x = 420000

Material

now (420000) + (80/100)(33000) = 446400

Conversion

420000 + (20/100)(33000) = 426600

Material cost incurred= 111,600 + 580,320 = 691920

Conversion cost incurred = 55,800 + 306,810 = 362610

Cost per equivalent unit of

material = 691920/ 446400 = 1.55 $

conversion = 362610/426600 = 0.85 $

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