apter 4 Exercises value: 20.00 points Clonex Labs, Inc, uses a process costing s

Question

apter 4 Exercises value: 20.00 points Clonex Labs, Inc, uses a process costing system. The following data are available for one department for October Percent Unis Materials Conversion Work in process, October 1 Work in process, October 31 54,000 90% 36,000 70% 65% 52% The department started 396,000 units into production during the month and transferred 414,000 completed units to the next department. Required: Compute the equivalent units of production for October, assuming that the company uses the weighted- average method of accounting for units and costs. Materials Equivalent units of production Hints References eBook &Resources; Hint#1 Check my work O Type here to search

Explanation / Answer

Computation of equivalent units of production using weighted average method of accounting for units and costs Physical Units % Completed with respect to Materials Equivalent Units for Materials % Completed with respect to Conversion Equivalent Units for Conversion Completed and transferred out 414000 100% 414000 100% 414000 Work in Process , October 31 36000 70% 25200 52% 18720 Equivalent units of production 439200 432720

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