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


Related 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%...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT