Question
In: Accounting
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:
| Percent Completed | |||||
| Units | Materials | Conversion | |||
| Work in process, October 1 | 53,000 | 95 | % | 65 | % |
| Work in process, October 31 | 36,000 | 71 | % | 53 | % |
The department started 394,000 units into production during the month and transferred 411,000 completed units to the next department.
What is the Equivalent of production for Materials and Conversion?
Solutions
Expert Solution
|
Units |
||
|
Reconciliation of Units |
||
|
A |
Opening WIP |
53000 |
|
B |
Introduced |
394,000 |
|
C=A+B |
TOTAL |
447,000 |
|
D |
Transferred |
411,000 |
|
E=C-D |
Closing WIP |
36,000 |
|
Statement of Equivalent Units |
|||||
|
Material |
Conversion Cost |
||||
|
Units |
Complete % |
Equivalent units |
Complete % |
Equivalent units |
|
|
Transferred |
411,000 |
100% |
411,000 |
100% |
411,000 |
|
Closing WIP |
36,000 |
71% |
25,560 |
53% |
19,080 |
|
Total |
447,000 |
Total |
436,560 |
Total |
430,080 |
Equivalent units
For material= 436560 Units
For Conversion = 430080 Units
ekkarill92 answered 8 months agoRelated Solutions
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...
Clonex Labs, Inc., uses the weighted-average method in its
process costing system. The following data are available for one
department for October:
Percent Completed
Units
Materials
Conversion
Work in process, October 1
34,000
58
%
25
%
Work in process, October 31
15,000
83
%
44
%
The department started 167,000 units into production during the
month and transferred 186,000 completed units to the next
department.
Required:
Assuming the company uses the FIFO method, compute the
equivalent units of production...
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...
Clonex Labs, Inc., uses the weighted-average method in its
process costing system. The following data are available for one
department for October:
Percent Completed
Units
Materials
Conversion
Work in process, October 1
54,000
95
%
60
%
Work in process, October 31
35,000
73
%
50
%
The department started 392,000 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.
Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are...
Clonex Labs, Inc., uses the weighted-average method in its
process costing system. The following data are available for one
department for October:
Percent Completed
Units
Materials
Conversion
Work in process,
October 1
48,000
85
%
60
%
Work in process, October 31
28,000
67
%
49
%
The department started 389,000 units into production during the
month and transferred 409,000 completed units to the next
department.
Required:
Compute the equivalent units of production for October.
QUESTION 1) materials:
QUESTION 2)...
BMG Inc. uses the weighted-average method in its process costing system. The following data concern the...
BMG Inc. uses the weighted-average method in its process costing
system. The following data concern the operations of the company's
first processing department for a recent month.
Work in process, beginning:
Units in process
........................................................... 200
Stage of completion with respect to materials ............
60%
Stage of completion with respect to conversion.......... 20%
Costs in the beginning inventory:
Materials cost
...........................................................
$756
Conversion cost
........................................................ $1,508
Units started into production during the month ..............
18,000
Units completed and transferred out...
Cleveland Inc. uses the weighted-average method in its process costing system. The following data concern the...
Cleveland Inc. uses the weighted-average method in its process
costing system. The following data concern the operations of the
company's first processing department - Cutting - for a recent
month.
Work-in-process, beginning:
Units in process
300
Percent complete with respect to materials
80%
Percent complete with respect to
conversion
70%
Costs in the beginning inventory:
Materials cost
$1,368
Conversion cost
$8,064
Units started into production during the month
11,000
Units completed and transferred out
11,000
Costs added to production during...
Bachelet Inc. uses the weighted-average method in its process costing system. The following data concern the...
Bachelet Inc. uses the weighted-average method in its process
costing system. The following data concern the operations of the
company’s first processing department for a recent month.
Work in process, beginning:
Units in process
400
Percent complete with respect to
materials
90
%
Percent complete with respect to
conversion
40
%
Costs in the beginning
inventory:
Materials cost
$
756
Conversion cost
$
4,448
Units started into production
during the month
13,000
Units completed and transferred
out
13,000
Costs added...
Bachelet Inc. uses the weighted-average method in its process costing system. The following data concern the...
Bachelet Inc. uses the weighted-average method in its process
costing system. The following data concern the operations of the
company’s first processing department for a recent month.
Work in process, beginning:
Units in process
400
Percent complete with respect to materials
90
%
Percent complete with respect to conversion
40
%
Costs in the beginning inventory:
Materials cost
$
756
Conversion cost
$
4,448
Units started into production during the month
13,000
Units completed and transferred out
13,000
Costs added...
Daosta Inc. uses the weighted average method in its process costing system. The following data concern...
Daosta Inc. uses the weighted average method in its
process costing system. The following data concern
the operations of the company's first processing
department for a recent month.
Work in process, beginning:
Units in process 900
Percent complete with respect to materials 40
%
Percent complete with respect to conversion costs 20
%
Costs in the beginning inventory:
Materials cost $ 530
Conversion cost $ 2108
Units started into production during the month
16,000
Units completed and transferred out 16,000...
Paradise Inc. uses the weighted-average method in its process costing system. The following data concern the...
Paradise Inc. uses the weighted-average method in its process
costing system. The following data concern the operations of the
company's first processing department, Cutting, for a recent
month.
Work-in-process, beginning:
Units in process
100
Percent complete with respect to materials
70
%
Percent complete with respect to conversion
80
%
Costs in the beginning inventory:
Materials cost
$
525
Conversion cost
$
1,696
Units started into production during the month
11,000
Units completed and transferred out
10,700
Costs added to...
Pureform, Inc., uses the weighted-average method in its process costing system. It manufactures a product that...
Pureform, Inc., uses the weighted-average method in its process
costing system. It manufactures a product that passes through two
departments. Data for a recent month for the first department
follow:
Units
Materials
Labor
Overhead
Work in process inventory, beginning
65,000
$
54,200
$
21,800
$
32,300
Units started in process
619,000
Units transferred out
640,000
Work in process inventory, ending
44,000
Cost added during the month
$
717,220
$
269,480
$
398,000
The beginning work in process inventory was 90%...
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