Conlon Chemicals manufactures paint thinner. Information on the work in process follows: • Beginning inventory, 42,700...

Conlon Chemicals manufactures paint thinner. Information on the work in process follows:

• Beginning inventory, 42,700 partially complete gallons.

• Transferred out, 210,000 gallons.

• Ending inventory (materials are 19 percent complete; conversion costs are 10 percent complete).

• Started this month, 244,100 gallons.

Required:

a. Compute the equivalent units for materials using the weighted-average method.

Equivalent units (Gallons)

b. Compute the equivalent units for conversion costs using the weighted-average method.

Equivalent units (Gallons)

Expert Solution

	Materials	Conversion Costs
Units transferred out	2,10,000	2,10,000
Equivalent units in ending inventory:
Materials:19% × 76,800 units	14,592
Conversion costs: 10% × 76,800 units		7680
Total equivalent units for all work done to date	2,24,592	2,17,680

Computation of Ending Inventory
Beginning Inventory	42,700
Unit Started	2,44,100
Less: Unit Trf Out	-2,10,000
Ending Inventory	76,800

ekkarill92 answered 9 months ago

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