Clonex Labs, Inc., uses the weighted-average method in its process costing syste

Question

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October: Work in process, October 1 Work in process, October 31 Units Materials Conversion 52, 000 31, 000 90% 74% 65% 48% The department started 390,000 units into production during the month and transferred 411,000 completed units to the next department. Required Compute the equivalent units of production for October. Materials Conversion Equivalent units of production

Explanation / Answer

Particulars Materials Conversion Equivalent Units of production            433,940.00           425,880.00 Statement of Equivalent production Particulars Direct Materials %completion Equivalent mat Conversion %completion Equivalent Conv Opening WIP              52,000.00 100%                 52,000.00              52,000.00 100%                 52,000.00 Units started and completed=411000 - 52000            359,000.00 100%               359,000.00            359,000.00 100%               359,000.00 Ending WIP              31,000.00 74%                 22,940.00              31,000.00 48%                 14,880.00 Equivalent Units               433,940.00               425,880.00

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